Nvidia Hits Record High as Market Value Reaches $5.7 Trillion
Nvidia shares hit a record $237.88, lifting its market value to about $5.7 trillion, the largest of any company. The stock is more than 40% above its March 2025 low and has surged as demand for AI chips keeps rising. Nvidia’s GPUs have become essential for training and running AI, with major cloud and AI firms buying them at massive scale. For the quarter ended July 26, Nvidia reported $96.2 billion in revenue, up 106% year over year, with data centers contributing $89 billion. CEO Jensen Huang said “compute is revenue,” underscoring how AI budgets are driving sales. The board also expanded its share repurchase authorization by $150 billion to $235 billion through fiscal 2028, the largest such increase on record. A weak September jobs report helped stocks rally by easing interest-rate concerns, which may also support AI infrastructure spending. Nvidia forecast $108 billion in current-quarter revenue.
