Nvidia Hits Record High as Market Value Reaches $5.7 Trillion

What happened

In brief Nvidia shares reached a record $237.88 in Friday trading, lifting the chipmaker's market value to roughly $5.7 trillion, the largest of any company. The board added $150 billion to Nvidia's buyback authorization on Sept. NVIDIA is a semiconductor company based in Santa Clara.

employers added 29,000 jobs in September against forecasts near 90,000, cooling bets on a Fed rate hike as the Nasdaq rose. The AI chipmaker's stock topped its May peak on Friday, helped by a record $150 billion buyback and a weak jobs report that cooled bets on Fed rate hikes.

Decrypt News Markets Nvidia Hits Record High as Market Value Reaches $5.7 Trillion The AI chipmaker's stock topped its May peak on Friday, helped by a record $150 billion buyback and a weak jobs report that cooled bets on Fed rate hikes. 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.

Market value, or market cap, is the share price multiplied by every share in existence. Nvidia's is now the largest of any business on Earth. Nvidia was worth $1.18 trillion in August 2023, at that point topping the entire crypto market .