Nvidia's shares rose approximately 1.7% in premarket trading on October 2, following Morgan Stanley's designation of the company as its top pick in the semiconductor sector.
This endorsement comes at a time when Nvidia is benefiting from broader market optimism and sector-specific tailwinds driven by AI adoption and data center demand.
Nvidia operates primarily in the technology sector under the semiconductor industry classification, with a market capitalization of $5.56 trillion, making it one of the largest and most influential players globally.