By Cris Tolomia
Publication Date: 2026-10-02 17:54:00
Nvidia stock closed at an all-time high on Friday for the first time since May, capping a sustained comeback that has lifted the chipmaker’s total market value to around $5.7 trillion — putting it tantalizingly close to an unprecedented $6 trillion threshold no company has ever crossed.
Nvidia stock rose 2.9% on Friday, building on gains that now total nearly 25% since the shares bottomed in late July, before which a two-month slide had erased more than $1 trillion in market value.
Two developments earlier this week gave the stock a boost. Nvidia announced a $150 billion increase to its share buyback program — the largest such expansion in the company’s history — and unveiled a double-layered AI security system designed to prevent AI agents from operating outside intended parameters, according to Bloomberg. The company said the security system would have blocked a recent breach of Hugging Face by OpenAI’s models.
Enthusiasm about the commercial potential of AI agents, with Meta Platforms’ Muse among the products drawing attention, has helped fuel expectations of durable chip demand and contributed to the stock’s climb, according to Bloomberg.
Nvidia reported record revenue of $81.6 billion in its first quarter of fiscal 2027, up 85% from a year earlier, driven by demand for its AI chips. Data center revenue, Nvidia’s largest business, reached $75.2 billion in the quarter, up 92% from a year ago. At the time, the…