As of October 6, 2026, Nvidia (NVDA) is trading at record levels. According to Yahoo Finance, the stock opened Monday at $236.07 and climbed to $239.86 in afternoon trading, pushing the company’s intraday market capitalization to $5.78 trillion — moving closer to the $6 trillion mark.
Key Takeaways
- ▲ Nvidia (NVDA) set a new all-time high, with intraday market capitalization reaching $5.78 trillion per Yahoo Finance — closing in on $6 trillion.
- ▲ Morgan Stanley reinstated Nvidia as its “Top Pick” in semiconductors after meetings with CEO Jensen Huang and CFO Colette Kress.
- ■ A soft September jobs report and falling oil prices eased pressure on bond yields, fueling a broad Friday rally on Wall Street.
- ▼ AI-bubble questions, circular-investing concerns and rising competition from AMD and custom chips remain the key counterweights.
Nvidia’s Record Run and the $5.78 Trillion Mark
The breakout did not come easily. CNBC noted that Nvidia had, on several occasions, approached its May intraday peak of $236.54 only to see sellers step in — before the stock punched through that level on Friday. MarketBeat’s quote page showed Monday’s closing price at $238.90, up 2.12%.
What Is Driving the Rally?
Sell-side support is central. According to Stocktwits via Yahoo Finance, Morgan Stanley reinstated Nvidia as its “Top Pick” in semiconductors after investor meetings with Jensen Huang and Colette Kress, maintaining an Overweight rating and a $300 price target — a forecast, not a fact about the shares’ future value. The firm pointed to Nvidia’s diverse customer base, spanning traditional hyperscalers and frontier AI labs, and MarketBeat’s coverage — which carries its own AI-generated label — flagged continued focus on strong AI infrastructure demand.
Why the Macro Backdrop Mattered
The record run sits inside a broader risk-on move. CNBC reported that Wall Street went into rally mode on Friday thanks to falling oil prices and a soft September jobs report that eased pressure on bond yields, with the Nasdaq up over 1.5%. As reported by CoinStats AI, U.S. nonfarm payrolls rose by only 29,000 in September with unemployment at 4.2%, per the Bureau of Labor Statistics’ October 2 release.
Bitcoin and the Supply Chain Backdrop
The crypto tape echoed the same driver — then faded. CoinTribune reported that on October 2 bitcoin surpassed $86,000 and briefly approached $87,100, supported by recovering ETF inflows and short liquidations; by October 6, per CoinStats AI, it had fallen back below $86,000. On the supply side, Quartz via Yahoo Finance reported that TSMC is weighing a Texas chip-manufacturing campus — separate from its $265 billion Arizona commitment — where each fabrication plant would cost at least $20 billion, per Bloomberg.
Risks and What to Watch
Yahoo Finance noted investors have regularly questioned whether the market is in an AI bubble since ChatGPT debuted in November 2022, and flagged so-called circular investing, in which Nvidia invests in its own customers who then buy more Nvidia chips. It also cited growing competition from AMD’s new rack-scale system and custom chips from customers like Amazon and Google. TSMC’s Texas decision hinges partly on whether U.S. legislators renew the 35% advanced-manufacturing tax credit before it lapses at year’s end.
How large is Nvidia’s market cap now?
Yahoo Finance reported an intraday market capitalization of $5.78 trillion, moving closer to the $6 trillion mark, after the record run to $239.86 on Monday.
What pushed Nvidia to a record high?
Verified catalysts include Morgan Stanley’s reinstatement of Nvidia as its semiconductor “Top Pick,” continued AI infrastructure spending, and a macro tailwind from falling oil prices and a soft September jobs report.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always conduct your own research before making investment decisions.
