Nvidia is back at a record after losing a third of its value. Here's what's behind the comeback

Visitors crowd around the Nvidia booth at the 2016 China Digital Entertainment Expo, known as ChinaJoy, in Shanghai.
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The coronavirus pandemic knocked the stock market off of record highs, but one major tech stock has now roared all the way back.

Chipmaker Nvidia closed at an all-time high of $322.62 per share on Monday, roughly $8 above its previous high from Feb. 19. It had fallen more than 37% to $196.40 per share on March 16. 

Here's what's behind the comeback and whether it can keep going.