Shares of Nvidia Corp. were climbing 3% midday Tuesday, putting the company on course to becoming the most valuable U.S. public company by market capitalization yet again.

Nvidia (NASDAQ: NVDA) once again demonstrated rapid growth as demand for its graphics processing units (GPUs) remains robust. Let's take a closer look at Nvidia's results to see whether the stock still has a lot of growth left in the tank.

Nvidia stock was rising on Monday as investors adjusted to new tension about trade. Shares in the chip maker rose 1.2% to $136.73 in early trading. Nvidia last week reported strong earnings but it still faces a potential obstacle in a flare-up in trade tensions between China and the U.

Nvidia has overtaken Microsoft as the largest U.S. company by market value, regaining the throne that it forfeited during the AI-stock selloff in late January. Nvidia shares rose 2.9% during Tuesday’s trading.

Companies including Microsoft, Meta, Google, Amazon, Oracle, and xAI have been purchasing Nvidia's AI accelerators in massive quantities to build ever-larger clusters of computers

Nvidia stock closed as the largest U.S. company by market value on Tuesday. The stock edged higher as investment bank Jefferies added the chip maker to its list of highest-conviction picks. Nvidia shares rose 2.