Nvidia Hits Record High as Market Value Reaches $5.7 Trillion

Nvidia's stock reached a new high at $237.88 in morning trading on Friday, bringing the company's market value to about $5.7 trillion and marking its first record close since May. The share price move followed the company's Sept. 28 decision to expand its repurchase authorization by $150 billion, increasing the total buyback capacity to $235 billion through fiscal 2028. Company officials described the increase as the largest in history.

Investors also responded to weaker-than-expected labor-market data released the same week: U.S. employers added 29,000 jobs in September, well below forecasts near 90,000, and the unemployment rate rose to 4.2%. The softer data reduced odds of further Federal Reserve rate hikes, a dynamic that can lower borrowing costs for businesses building AI data centers and is typically supportive for growth-oriented technology stocks.

Nvidia's business remains heavily concentrated in AI computation. The company reported $96.2 billion in revenue for the quarter ended July 26, a 106% increase from a year earlier, with data-center products accounting for $89 billion of that total. Customers from cloud providers to AI startups are major buyers: Amazon Web Services has said it plans to deploy about 1 million Nvidia GPUs through 2027, while xAI and Anthropic already operate roughly half a million chips and expect to expand that footprint.

Beyond sales, Nvidia reported substantial multiyear commitments tied to AI infrastructure: $366 billion disclosed overall, with about $279 billion largely linked to memory procurement. The company has also financed customer expansions directly; it pledged up to $100 billion to OpenAI in September 2025, though the final stake reported was $30 billion, with another $10 billion committed to Anthropic. Nvidia is forecasting $108 billion in revenue for the current quarter and retains the $235 billion buyback authority through January 2028.

Nvidia's market value has climbed rapidly in recent years — from about $1.18 trillion in August 2023 to surpassing Apple at $3 trillion in June 2024, and becoming the first company to hit $5 trillion in October 2025 — highlighting how central the firm has become to both the AI industry and equity markets more broadly.