Nvidia Stock Sets Record as Market Value Tops $5.7 Trillion

Nvidia shares touched a record high Friday, reaching $237.88 in morning trading and lifting the chipmaker's market capitalization to about $5.7 trillion. It marks the company's first record since May. Market cap is calculated by multiplying the share price by every share in existence, and Nvidia's is now the largest of any business worldwide.

The stock has climbed more than 40% since its March 30 low of $165.17. Because Nvidia sits in the S&P 500, anyone holding a broad index fund in a retirement account already owns a stake in the company. Its rise has been steep: Nvidia was worth $1.18 trillion in August 2023, overtook Apple at $3 trillion in June 2024 and became the first company to reach $5 trillion in October 2025. For comparison, the entire crypto market — Bitcoin included — currently sits just above $3 trillion.

Nvidia designs GPUs, chips originally built for video games that proved well suited to training and running AI models. Tech companies buy them in enormous volumes: Amazon's cloud unit plans to deploy roughly 1 million through 2027, while xAI's facilities, which also serve Anthropic, already hold half a million chips and intend to triple that. Nvidia reported $96.2 billion in revenue for the quarter ended July 26, up 106% year over year, with $89 billion coming from data centers. CEO Jensen Huang said in the earnings release that 'now, compute is revenue.'

On Monday, Nvidia's board added $150 billion to its share repurchase authorization, bringing the total to $235 billion through fiscal 2028 — an increase the company described as the largest in history. A buyback uses company cash to purchase its own shares, leaving fewer in circulation so each remaining share represents a larger slice of the business. Separately, Supermicro said Sept. 23 that it had begun shipping racks built on Nvidia's newest platform, Vera Rubin, with each rack carrying 72 Rubin GPUs.

Friday's jobs report showed employers added just 29,000 positions in September against forecasts near 90,000, while unemployment rose to 4.2%. Stocks rallied despite the weak labor data, as the numbers cooled bets that the Federal Reserve will raise interest rates — higher rates would make borrowing more expensive for the companies building AI data centers. Nvidia has also put money into its own customers, committing up to $100 billion to OpenAI in September 2025 with a final stake of $30 billion, plus another $10 billion for Anthropic. Its books show $366 billion in multiyear AI infrastructure commitments, $279 billion of it tied mostly to memory procurement.

Looking ahead, Nvidia has guided to $108 billion in revenue for the current quarter and holds $235 billion in buyback authority to spend through January 2028.