Nvidia makes the chips that power much of today’s AI, so its share price has become a rough barometer of how much the world is betting on AI. That barometer just hit a new high.
Nvidia shares closed at a record $238.90 on 5 October 2026, up 2.12% on the day, according to Seoul Economic Daily, citing Yahoo Finance and other sources [1]. During the session they reached $240.10, an all-time high, and the company’s market value briefly swelled to $5.78 trillion, the paper reports.
How close is $6 trillion?
Market value, or market capitalisation, is the share price multiplied by the number of shares, so it moves every time the price does.
By Seoul Economic Daily’s arithmetic, Nvidia’s share price would need to rise about 3.8% from current levels for the company to be worth $6 trillion [1]. The paper also cites a CNBC analysis of options-market pricing, which put the chance of reaching that level by the end of October at roughly 50% [1]. That is a reading of what traders are betting on, not a forecast by Nvidia or a guarantee.
What is driving the rally?
Seoul Economic Daily points to several factors [1]:
- AI infrastructure spending. Demand for AI investment across major industries has shown little sign of slowing, the paper says, despite debate over a possible bubble.
- Supplier results. Taiwan’s Foxconn, a key partner in building Nvidia’s AI servers, reported third-quarter revenue up 47% from a year earlier and above expectations, which analysts read as a sign that AI server orders are holding up.
- A big buyback. On 28 September Nvidia announced a $150 billion increase in its share buyback authorisation, which the paper describes as a record. A buyback is when a company buys its own shares, which can support the price.
- Analyst support. Morgan Stanley has named Nvidia its top semiconductor pick, with an “overweight” rating and a $300 price target. That is the bank’s view, not a prediction anyone can rely on.
The paper also notes that easing worries about further US interest-rate rises have helped technology stocks, even as long-term borrowing costs keep climbing [1].
What this does not prove
- That $6 trillion is imminent. The options-market odds and analyst targets are opinions and market pricing, not certainties.
- That the valuation is fixed. The $5.78 trillion figure was an intraday peak in a single session and will move with the share price.
- That the AI boom is secure. The rally reflects investors’ expectations about AI spending; the paper itself notes the ongoing debate over whether AI investment has become a bubble.
The Bottom Line
Nvidia’s record close shows investors are still betting heavily that AI spending will keep growing, helped by strong supplier numbers and a huge share buyback. Crossing $6 trillion would be a symbolic milestone, but share prices can fall as quickly as they rise, and the odds quoted are traders’ bets, not promises.
Sources
- Seoul Economic Daily, Lee Wan-ki, 6 October 2026: report on Nvidia’s record close and market value. https://en.sedaily.com/international/2026/10/06/nvidia-hits-record-high-nears-6-trillion-market-value
