Nvidia shares hit record high, market value climbs to $5.7 trillion
Nvidia's stock rose to $237.88, pushing its market capitalization to roughly $5.7 trillion. The chipmaker reported second‑quarter revenue of $96.2 billion, driven largely by data‑center sales. Its board added a $150 billion share‑repurchase authorization, raising the total to $235 billion through fiscal 2028. A weak jobs report the same day may have helped fuel the rally.
Why it matters
The company says the expanded buyback, the largest in history, will return cash to shareholders and support the share price. Analysts note that the record valuation and strong earnings underscore Nvidia's dominant position in AI infrastructure, which could influence investor allocations to tech and AI‑related funds.
Key facts
- 1Nvidia's share price reached $237.88 in early trading. finance.yahoo.com
- 2The stock price lifted Nvidia's market value to about $5.7 trillion. finance.yahoo.com
- 3Quarterly revenue for the quarter ended July 26 was $96.2 billion. finance.yahoo.com
- 4Data‑center sales contributed $89 billion of the quarterly revenue. finance.yahoo.com
- 5The board authorized an additional $150 billion share buyback, bringing total authorization to $235 billion through fiscal 2028. finance.yahoo.com
- 6U.S. jobs added in September were 29,000, well below the forecast of about 90,000, and unemployment rose to 4.2%. finance.yahoo.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.