US Stock Market Move | NVIDIA Corporation (NVDA.US) rose 2.8% to a record high, with its market capitalization surpassing $5.7 trillion.

On Friday, NVIDIA Corporation (NVDA.US) surged at the open, rising as much as 2.8% intraday to a record high, with its market capitalization surpassing $5.7 trillion. On the news front, according to The Information, citing people familiar with the matter and a SoftBank statement, NVIDIA Corporation and SoftBank have each completed the final $10 billion investment in OpenAI's previous funding round, fulfilling their respective $30 billion investment commitments. Meanwhile, after the latest U.S. nonfarm payrolls data was released, the market reduced its bets on a Federal Reserve rate hike in October, which together drove a major rally in technology stocks in the U.S. market. In addition, NVIDIA Corporation recently increased its share buyback authorization by $150 billion, bringing the total repurchase program to $235 billion, and expects to execute the buyback plan before fiscal year 2028. A series of positive developments continues to support the stock price.