The Dow Jones index rose Thursday on surprise jobless claims and retail sales. Nvidia chipmaker TSMC rose on earnings.

Nvidia (NASDAQ: NVDA) stock currently trades for around $155. However, Loop Capital just gave Nvidia a new price target of $250 per share. That indicates around 60% upside from today's price, but the implications of a $250-per-share stock are far greater.

Nvidia owns a 7% stake in CoreWeave, and made it possible for the young company to be the first to launch its latest GPUs. In February, CoreWeave became the first hyperscaler to make Nvidia's new Blackwell architecture broadly available -- and it just did the same recently with the latest iteration, Blackwell Ultra.

The S&P 500 and Nasdaq Composite are rising, but market internals suggest the stock market is actually falling, which would be more in line with what the Dow is showing. Declining stocks are outnumbering advancers,

The first two factors caused Nvidia stock to fall 9.8% last week, although the overall market also had a very bad week, with the S&P 500 and Nasdaq indexes down 3.1% and 3.5%, respectively.

If Palantir Technologies (NASDAQ: PLTR) and Nvidia (NASDAQ: NVDA) were in the stock equivalent of a boxing match, we'd have a technical knockout so far this year. Palantir has crushed Nvidia, with its shares skyrocketing close to 70%, while Nvidia's stock is up by only a single-digit percentage.