Lates News

After two months of selling pressure that wiped out more than $1 trillion in market value, investors rushed into Nvidia shares, sending the stock to another record intraday high today, up as much as 2.9% since May. The rally has been fueled in recent weeks by optimism that AI agents such as Meta's Muse could drive increased demand for semiconductors. The stock got a further boost after Nvidia announced on Monday a record $150 billion increase to its buyback program. Nvidia's rebound follows months of rapidly shifting sentiment around AI's prospects, including doubts about corporate infrastructure spending running into hundreds of billions of dollars and concerns about the technology's potential safety risks to humanity. Overall, Nvidia shares are up about 27% year to date and are on track for a fourth consecutive year of double-digit gains. Its market value now stands at about $5.7 trillion, less than $300 billion away from becoming the first company in history to reach a $6 trillion valuation.