Nvidia ( NVDA 1.80%) remains one of the best artificial intelligence (AI) stocks on the market. But with the chipmaker now trading at a price-to-sales multiple of 26.4, many investors may wonder if shares have gotten too expensive to buy. Don't be fooled: Nvidia stock is still reasonably priced.

Nvidia made history Wednesday, reaching a milestone market capitalization. These three charts show its path to $4 trillion since the debut of ChatGPT.

Even at record highs, Nvidia’s stock may not be as expensive as it is touted to be. Some valuation metrics suggest room for upside

U.S. stock indexes were buoyed on Wednesday by AI confidence thanks to Nvidia (NVDA.O), which became the first company to reach a market cap of $4 trillion.

Even with the stock's resounding three-year gain, its valuation has decreased when looking at price-to-free cash flow (P/FCF) and P/E ratios. That makes sense with sales exploding thanks to unprecedented demand for its GPU chips and other products supporting artificial intelligence (AI) infrastructure.

Like many high-growth stocks, Nvidia (NASDAQ: NVDA) shares looked expensive on a fundamental basis over the last three years, even as its price shot higher by almost 980%. Now, some investors ...

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