Nvidia stock has rallied impressively in the past three months, and trades at a premium valuation. Growth-oriented investors should consider looking past Nvidia's valuation in light of the opportunity.

Nvidia stock spiked on Tuesday. The AI chip titan said it had received assurances from the administration that it can resume sales of key AI chips to China.

Nvidia saw restrictions on its China business lifted this week and that is lifting the spirits of wealth managers bullish on the tech giant's future.

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Nvidia took a $4.5 billion write-off in its latest quarter on unsold H20 chips that it was unable to repurpose for other markets. If sales of these high-volume chips to China resume, a reversal of this write-off could boost earnings.

Nvidia said it has filed applications to resume selling H20 GPUs in China and has received assurances that licenses will be granted.

Nebius stock has soared impressively this year, and its rise seems justified considering its outstanding growth and solid prospects. Goldman Sachs believes that the stock remains undervalued when its growth potential is taken into account.

Taiwan Semiconductor Manufacturing Co. (TSM) stock soared Thursday after the contract chipmaker delivered second-quarter results that blew past analyst expectations, driven by insatiable global demand for its advanced processor technologies essential for artificial intelligence applications.