It isn't just Nvidia. A new cadre of hot stocks is now riding the artificial intelligence boom.

Why it matters: The bull market has been running since October 2022, but the near-euphoria surrounding all things AI seems to be provoking renewed feelings of friskiness among investors.

State of play: A range of stocks linked to the buildout of AI infrastructure surged Thursday, in the aftermath of another remarkable quarterly report from Nvidia, which also boosted the S&P 500 to a new record high.

The intrigue: Nvidia wasn't even the biggest winner on Thursday. That prize goes to the niftily named Super Micro Computer, which makes high-end servers to fill the racks in AI-dedicated data centers. It surged over 30% on the day. Also on the move...

• Advanced Micro Devices, considered Nvidia's main rival in AI-oriented graphics processing units (GPUs), added nearly 11%. GPUs have long been used for rendering images in video games, but also serve as the backbone of artificial intelligence applications.
• Synopsys, which makes software that's used for designing chips, surged around 7%.
• Silicon Valley chip maker Marvell Technology jumped 6.6%.

The big picture: Thursday's surge followed in the wake of another massive quarter for Nvidia, which it reported Wednesday after the close of trading.

• Sales tripled to an absurd $22.10 billion.
• Profits rose almost 800% to $12.29 billion
• The stock rose over 16% Thursday, adding more than $250 billion in market value in a single day.

What they're saying: In a note on Nvidia's results, Goldman Sachs analysts suggested demand for AI infrastructure shows no signs of slowing.

• "We expect not only sustained growth in [generative] AI infrastructure spending by the large CSPs and consumer internet companies, but also increased development and adoption of AI across enterprise customers representing various industry verticals and, increasingly, sovereign states," they wrote.

The bottom line: Stand back, the AI engine is really chugging, pulling the rest of the market behind.