Nvidia’s talk of huge market opportunities in autonomous driving and robotics is “potentially comforting for investors thinking about what might come next for the company,” an analyst says.

Nvidia stock appeared to be caught up in overall market weakness, and taking a breather after closing at a new record high on Monday. Furthermore, investors seem to be digesting the myriad product announcements from the artificial intelligence (AI) chipmaker in conjunction with the kickoff of CES yesterday in Las Vegas.

So, is Nvidia stock a buy at its current level? Or is the stock's current valuation already pricing in expected business growth? One thing is clear: Nvidia's business is firing on all cylinders. Revenue in its most recently reported quarter soared 94% year over year and 17% sequentially to $35.

Jensen Huang unveils the chip designer’s next-generation gaming graphics cards at the CES tech trade show in Las Vegas on Monday.