Nvidia Hits First Record High Since May as AI Demand Surges
Nvidia shares have reached a fresh all-time high for the first time since May, pushing the company’s market value toward $6 trillion as investors remain confident in the continued growth of artificial intelligence.
Nvidia shares surged to a new record on October 2, 2026, marking the company’s first record high since May. The stock climbed about 2.9% during Friday’s trading session, reaching roughly $237.75 per share and lifting Nvidia’s market capitalisation to approximately $5.7 trillion. The move followed a strong recovery from a two-month sell-off that had erased more than $1 trillion from the company’s value.
The latest rally reflects continued investor confidence in Nvidia’s dominant position in the artificial-intelligence semiconductor market. Technology companies and AI developers continue to spend heavily on data centres and advanced computing infrastructure, creating strong demand for Nvidia’s graphics processing units and other AI accelerators. Nvidia’s shares have now gained roughly 27% in 2026, highlighting the strength of the company’s recovery.
Another major factor supporting the stock was Nvidia’s decision to expand its share-buyback programme. The company’s board authorised an additional $150 billion in share repurchases, taking the remaining authorisation to about $235 billion through fiscal 2028. The increase is the largest expansion of Nvidia’s buyback programme and signals management’s confidence in the company’s ability to generate substantial cash while continuing to invest in AI infrastructure.
Wall Street analysts have also remained optimistic about Nvidia’s prospects. Morgan Stanley reinstated Nvidia as its top semiconductor pick after meetings with CEO Jensen Huang and other executives, pointing to the company’s broad customer base and its strong position in the expanding AI infrastructure market. Analysts are increasingly watching demand from major cloud providers and newer AI companies as they build increasingly powerful computing systems.
Nvidia’s latest record also brings the company closer to an unprecedented $6 trillion market valuation. The chipmaker is already the world’s most valuable publicly traded company, and its continued growth has helped drive Jensen Huang’s personal fortune above $200 billion. Whether Nvidia can cross the $6 trillion threshold will depend heavily on sustained AI spending, future chip demand and the company’s ability to maintain its technological lead as competition in the AI semiconductor industry intensifies.
