Nvidia stock hits record high, market cap reaches $5.7 trillion

October 2, 2026 at 07:13 PM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Nvidia shares hit a record intraday high of $237.88 on Friday, lifting the chipmaker's market value to roughly $5.7 trillion, the largest of any company. The stock opened at $236.05 and reached $237.55 in early trading, surpassing its prior high of $235.54. The rally comes amid continued spending on AI infrastructure and a cooling labor market that eased bets on a Fed rate hike.

Key Facts

Nvidia's intraday market capitalization reached $5.7 trillion on Friday, the largest of any company.
The stock hit a record $237.88 in morning trading, its first record since May.
Nvidia's board added $150 billion to its buyback authorization on Sept. 28, bringing the total to $235 billion through fiscal 2028.
U.S. employers added 29,000 jobs in September, far below forecasts near 90,000.
Nvidia reported revenue of $96.2 billion in its August Q2 earnings and guided Q3 sales between $105.8 billion and $110.1 billion.

Record Share Price

Nvidia shares reached $237.88 in Friday morning trading, surpassing the prior record of $235.54 set earlier this year. The stock opened at $236.05 and climbed to $237.55 in early trading before setting the new intraday high. The gain lifted Nvidia's market capitalization to roughly $5.7 trillion, the largest of any company on Earth. The stock is up more than 40% from its March 30 low of $165.17.

Market Context

Nvidia was worth $1.18 trillion in August 2023, passed Apple at $3 trillion in June 2024, and became the first company to hit $5 trillion in October 2025. Total crypto market capitalization, including Bitcoin, stands at just above $3 trillion. U.S. employers added 29,000 jobs in September against forecasts near 90,000, cooling bets on a Fed rate hike as the Nasdaq rose. Nvidia sits in the S&P 500, so index fund holders own a slice of the company.

AI Infrastructure Spending

Nvidia is riding high on continued spending on AI infrastructure amid the broader global buildout. The company designs graphics processing units and associated networking and other systems, making it the poster child for the AI hardware race. CEO Jensen Huang frequently appears alongside President Trump at AI and tech-focused events and travels the world to meet with foreign leaders. In its August Q2 earnings report, Nvidia reported revenue of $96.2 billion and guided Q3 sales between $105.8 billion and $110.1 billion.