On Monday, October 6, 2026, Nvidia shares closed at a record $239.11, up 2.2%, after touching an intraday high of $240.10. The advance lifted the chipmaker's market capitalization to about $5.77 trillion, leaving it less than 5% away from a $6 trillion valuation. Based on the current share count, NVDA would need to trade above roughly $249 per share to cross that threshold.
Fresh fundamental support came from manufacturing partner Foxconn, which reported September-quarter revenue of approximately $95.5 billion, a 47% year-over-year increase, driven by cloud and networking products tied to AI server demand. Nvidia's own latest fiscal first-quarter revenue reached $81.6 billion, with Data Center sales up 92% year over year to $75.2 billion.
BNP Paribas analyst Karl Ackerman raised his Nvidia price target from $285 to $345, citing Nvidia's GPUs, networking equipment and CUDA software. He expects the company to capture more than three-quarters of the AI computing market in dollar terms and hold gross margins above 70%. The new target implies roughly 44% upside from Monday's close.
Nvidia also authorized a $150 billion increase to its buyback program, bringing total remaining authorization to $235 billion, which the company called the largest such increase in history. Despite the record share price, the stock trades at about 17.1 times forward earnings, near its lowest forward multiple in over a decade. CEO Jensen Huang recently called Nvidia "the world's first and only growth value stock."
