Nvidia Hits Record High as Market Value Reaches $5.7 Trillion — SkimNews
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- Nvidia shares hit a record $237.88 in Friday trading, pushing its market cap to roughly $5.7 trillion—the largest of any company—its first record since May and a more than 40% gain from its March 30 low of $165.17.
- Nvidia's board added $150 billion to its share buyback authorization on Sept. 28, bringing the total to $235 billion through fiscal 2028 in what the company called the largest increase in history.
- September's jobs report showed just 29,000 positions added against forecasts near 90,000, with unemployment rising to 4.2%; the weak print cooled bets on a Fed rate hike and helped lift the Nasdaq despite the bad news for workers.
- Nvidia reported $96.2 billion in revenue for the quarter ended July 26—up 106% year-over-year—with $89 billion from data center sales, and has forecast $108 billion for the current quarter.
- Nvidia disclosed $366 billion in multiyear AI infrastructure commitments, with $279 billion tied mostly to memory procurement, and has plowed capital into OpenAI ($30 billion final stake) and Anthropic ($10 billion).
- Amazon plans to deploy roughly 1 million Nvidia chips through 2027, while xAI's facilities—which also serve Anthropic—already own 500,000 chips with plans to triple that amount.
Why it matters: Nvidia's $5.7 trillion market cap now exceeds the entire $3 trillion crypto market. Its $108 billion quarterly revenue forecast draws directly from AI budgets at Amazon, OpenAI, Anthropic, and xAI—companies that have simultaneously received $30 billion and $10 billion equity stakes from Nvidia, while softening labor data removes Fed rate-hike pressure that would hit data center competitors harder.
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