Nvidia Hits Record as AI Rally Lifts Market Value

Nvidia shares climbed to a record on Friday, pushing the chipmaker’s market value to about $5.7 trillion and surpassing its prior peak from May. The advance followed a $150 billion share repurchase authorization and a softer U.S. jobs report that tempered expectations for additional Federal Reserve rate increases.

The latest move reinforces Nvidia’s position at the center of the artificial intelligence trade, where investor demand has remained concentrated in companies tied to semiconductor supply, data-center buildout and AI infrastructure. A large buyback can support earnings per share and signal management confidence, while also adding another layer of demand for the stock.

The macro backdrop also helped. A weaker labor market reading typically reduces pressure on the Fed to maintain a restrictive stance, which can support growth stocks with long-duration cash flow profiles. That dynamic has been especially important for Nvidia and other AI leaders, which often trade on expectations for sustained capital spending rather than near-term earnings alone.

For broader markets, Nvidia’s move reflects continued risk appetite in a greed-leaning environment. However, the concentration of gains in a small group of mega-cap technology names leaves the rally vulnerable if earnings momentum slows, AI spending moderates or rate-cut expectations reverse.