Major U.S. indexes, including S&P 500, Nasdaq and Russell 2000, closed down more than 1%, while the values of crypto and gold also fell.

Among the 64 sell-side analysts that cover Nvidia, 59 have a "buy" or equivalent rating on Nvidia stock. After analyzing the various catalysts above, it's easy to see why so many on Wall Street see Nvidia as a no-brainer opportunity.

Microsoft's licenses enable the firm to ship Nvidia chips — involving its more advanced GB300 GPUs — to the United Arab Emirates.

Both companies were back at it on Tuesday, announcing deals that once again added billions in value to public companies.

We're still in the early innings of deploying large-scale computing power, which is why orders keep coming in for Nvidia's GPUs. This is why Nvidia's $500 billion in orders for its computing systems is a huge deal, as it represents a significant uptick in growth.

Nvidia said it plans to take a $1 billion stake in Nokia, sending shares of the Finnish tech company soaring Tuesday. Nvidia shares also climbed.