Semiconductor giant Nvidia (NVDA) has been hitting new market-cap milestones at an unprecedented pace. Last year, it joined the $1 trillion market cap club, while its valuation surpassed $2 trillion in February this year.

The past two years have been absolutely phenomenal for Nvidia (NASDAQ: NVDA) investors, as shares of the graphics card specialist shot up 736% during this period once it became evident that the company is going to play a central role in the proliferation of artificial intelligence (AI).

Nvidia stock has been on a disappointing run since its earnings last week but the good vibes looked set to return in a holiday-shortened session Friday.