Nvidia shares’ outlook still looks “pretty darn good” after its valuation increased tenfold over the last two years, remarked one analyst.

Key Takeaways Nvidia's market capitalization overtook Microsoft's on Monday, making it the second-largest company in the world behind Apple.The semiconductor company and its partners are seeing robust demand for products to support artificial intelligence (AI).

Nvidia's stock has been soaring like an eagle on Ritalin over the past year, while Intel's stock has lost more than 60% of its value in the same period. This situation has exploded the Nvidia CEO's net worth to over $100 billion,

Nvidia stock was rising early on Monday. Healthy demand for artificial-intelligence chips looked to be helping it shrug off wider market moves and further reports of government pressure in China for local companies not to use its hardware.

A Melius Research analyst says “you still get some eye rolls when you reiterate this buy,” but the setup for Nvidia shares “is still pretty darn good.”

Management says the Blackwell architecture for its latest GPUs is much more energy efficient. Why demand for Nvidia's GPUs is likely to remain robust for the foreseeable future. Nvidia ( NVDA 1.69%) has been one of the best performing stocks the past few years,