On Friday, shares in Nvidia climbed to an all-time peak, touching $237.88 during morning trading, which pushed the chipmaker’s worth up to about $5.7 trillion. That figure makes Nvidia the most valuable company anywhere in the world, and it marks the first time the stock has set a record high since May.
The milestone comes after a wild few weeks for the company. Nvidia’s board added $150 billion to its buyback authorization on Sept. 28, bringing the total to $235 billion through fiscal 2028, which the company called the largest increase in history. Then came Friday’s jobs report, which showed employers adding just 29,000 jobs in September against forecasts near 90,000.
From $1.18 Trillion to $5.7 Trillion
Nvidia reached a value of $1.18 trillion in August 2023, surpassing the entire crypto market. The company passed Apple at $3 trillion in June 2024, before becoming the first company to reach $5 trillion in October 2025. At present, the total crypto market capitalization—including Bitcoin and all—is just above $3 trillion.
The share has risen by over 40% since its March 30 low of $165.17. This isn’t just a tale about Silicon Valley. Nvidia is part of the S&P 500, which means that if your retirement savings sit in an index fund, you already hold a piece of it.
What Nvidia Actually Makes
Nvidia manufactures GPUs, which were originally designed for video games but proved to be perfect for training and running AI. These graphics processing units have become a standard part of the infrastructure used by major tech companies. Amazon’s cloud arm plans to deploy about 1 million through 2027, and xAI’, whose data centers also support Anthropic, already owns half a million of these chips, with plans to expand its holdings to three times that number in the near future.
The earnings report from Nvidia shows revenue of $96.2 billion for the quarter ending July 26, up 106% from the prior year, according to the company’s statement. Of that total, data centers — the server-packed facilities that power AI — accounted for $89 billion.
In the same release, CEO Jensen Huang said “Now, compute is revenue.”. That term stands for computing power, which is precisely what those chips deliver. Put plainly, Nvidia’s sales are other companies’ AI budgets.
Monday’s Buyback Announcement
On Monday, Nvidia’s board boosted its buyback authorization by $150 billion, pushing the total to $235 billion through fiscal 2028. The company described it as the largest increase in history. A buyback involves a firm spending its own money to buy its own shares, reducing the number of shares outstanding and making each remaining share represent a larger portion of the company. Fewer shares in circulation make the remaining ones more appealing.
On Sept. 23, Supermicro announced it has begun shipping racks, the standard cabinets that house servers within a data center, based on Nvidia’s latest platform, Vera Rubin. Each rack contains 72 Rubin GPUs.
Friday brought the jobs report, which showed employers adding only 29,000 jobs in September instead of the forecasts near 90,000, with unemployment rising to 4.2%.
Stocks rose despite a poor jobs report that was worse than expected, even after revisions. The disappointing figures reduced speculation that the Federal Reserve would increase interest rates. Higher borrowing costs hit companies building AI data centers, which need funding to expand. Nvidia’s existing grip on the market means rivals feel that pressure more than Nvidia does.
Nvidia Funds Its Own Customers
OpenAI received a pledge from Nvidia worth up to $100 billion in September 2025. The total amount actually invested came to $30 billion, with the remaining $10 billion going instead to Anthropic.
The company’s own books bear a heavy load. Nvidia disclosed commitments for multiyear AI infrastructure amounting to $366 billion, with $279 billion of that figure tied mostly to memory procurement.
The company has put forward guidance of $108 billion in revenue for the current quarter. It also sits on $235 billion in buyback authority, which runs through January 2028.
Why This Matters Now
Nvidia has moved beyond being a small chipmaker. Its market value now tops the total crypto sector, and its revenue comes from the firms that build the AI systems the world depends on.
Nvidia’s commitment to buying back its own stock demonstrates faith in its own prospects. The company has authorized spending up to $235 billion dollars to cut its outstanding shares, making each remaining share worth more. The Vera Rubin hardware demonstrates continued progress on the technology front. Meanwhile, the customer funding indicates Nvidia is willing to put its own capital behind the firms that depend on its chips most.
The employment numbers took some pressure off the argument for a Federal Reserve interest-rate increase, and that works to Nvidia’s advantage. If rates go up, it will cost data center operators more to borrow money, which could reduce demand for Nvidia’s graphics processing units.
Key Facts Box
- Record high: $237.88 on Friday morning
- Market value: Roughly $5.7 trillion
- Buyback authorization: $235 billion through fiscal 2028
- Revenue Q2: $96.2 billion, up 106% from a year earlier
- Data center revenue: $89 billion
- Stock up since March low: More than 40%, from $165.17
- Jobs created in September: 29,000 vs. forecasts near 90,000
- Unemployment: 4.2%
- OpenAI investment: Final stake $30 billion, plus $10 billion to Anthropic
- AI infrastructure commitments: $366 billion, with $279 billion tied to memory procurement
Nvidia has turned into the engine behind the AI economy, and its stock price shows it. The share repurchase program, the fresh hardware, and the customer investment all line up with the same goal. The employment data gave traders another justification to send the stock upward.
The rally’s fate rests on Nvidia’s ability to continue supplying the AI sector with the components it requires. The record remains intact for the moment, and the market has already made its judgment known.
Source material: “Nvidia Hits Record High as Market Value Reaches $5.7 Trillion,” Decrypt.
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