Nvidia Share Price Reaches Record High and Pushes Market Value to $5.7 Trillion

Nvidia stock hit a record high on Friday, reaching $237.88 in morning trading and lifting the chipmaker's market value to roughly $5.7 trillion. This marks the first stock record for the company since May. Market value is the share price multiplied by every share in existence, functioning as the price tag for the entire business. Nvidia now holds the largest market value of any business on Earth.

The company was worth $1.18 trillion in August 2023, at that point topping the entire crypto market. It passed Apple at $3 trillion in June 2024 before becoming the first company to hit $5 trillion in October 2025. Total crypto market capitalization currently stands at just above $3 trillion. Nvidia stock is up more than 40% from its March 30 low of $165.17.

Because Nvidia sits in the S&P 500, investors holding a retirement index fund already own a slice of it. Nvidia manufactures graphics processing units, which are chips originally built for video games that turned out to be ideal for training and running artificial intelligence. Tech giants purchase these processors by the hundreds of thousands.

Amazon's cloud arm plans to deploy about 1 million chips through 2027. Facilities belonging to xAI, which also serve Anthropic, already own half a million chips and plan to triple that amount soon. Nvidia reported $96.2 billion in revenue for the quarter ended July 26, which is up 106% from a year earlier. Data centers, which are the buildings full of servers that run artificial intelligence, brought in $89 billion of that revenue.

Compute demand drives revenue growth

CEO Jensen Huang stated in the earnings release that compute is now revenue. Compute serves as industry shorthand for computing power supplied by these chips. Nvidia sales directly reflect the artificial intelligence budgets of other companies. On Monday, Nvidia announced that its board added $150 billion to its repurchase authorization.

This addition lifted the total repurchase authorization to $235 billion through fiscal 2028, which the company called the largest increase in history. A buyback involves a company spending its own cash to purchase its shares, which leaves fewer in circulation and makes available shares more attractive. Supermicro announced on September 23 that it had started shipping server racks built on Nvidia's newest platform, Vera Rubin, with each rack carrying 72 Rubin GPUs.

Friday brought a jobs report showing employers added just 29,000 jobs in September against forecasts near 90,000, while unemployment rose to 4.2%. Stocks rallied despite the weak numbers because the figures cooled bets that the Federal Reserve will raise interest rates. Higher rates increase borrowing costs for companies building artificial intelligence data centers. Since Nvidia already monopolizes the industry, difficulties in obtaining debt hurt its competitors more than Nvidia itself.

Nvidia also provides funding directly to its own customers. The company committed up to $100 billion to OpenAI in September 2025, though the final stake reached $30 billion, with an additional $10 billion going to Anthropic. Nvidia financial disclosures also revealed $366 billion in multiyear artificial intelligence infrastructure commitments, with $279 billion of that tied mostly to memory procurement.

Nvidia has forecast $108 billion in revenue for the current quarter. The company maintains $235 billion in buyback authority to spend through January 2028.