The article discusses the recent surge in Nvidia’s stock price, which has reached record highs, and Wall Street analysts’ defense of the company’s valuation. According to the article, Nvidia’s stock has risen by over 90% this year, driven by the company’s dominance in the artificial intelligence (AI) chip market. Analysts at firms like Evercore ISI and Oppenheimer have raised their price targets for Nvidia, citing the company’s strong position in the AI chip market and the potential for further growth. The article also mentions that Nvidia’s CEO, Jensen Huang, has emphasized the company’s focus on AI and its ability to capitalize on the growing demand for AI chips. Overall, the article suggests that Wall Street remains bullish on Nvidia’s prospects, despite concerns about its high valuation.