Nvidia Hits Record High Amid Strong AI Demand

Nvidia, the world's largest company by market cap, has reached a new all-time high price of $237.87, taking its market value to approximately $5.7 trillion.

The stock gained nearly 14% since September 14, rising from $208.93 to $237.88, driven mainly by strong AI demand and a bullish call from Morgan Stanley.

Morgan Stanley named Nvidia its 'Top Pick' in the global semiconductor sector, keeping its Overweight rating and raising confidence in a $300 price target.

Nvidia also expanded its share buyback plan by $150 billion, taking its remaining authorization to $235 billion through fiscal 2028.

Crypto trader Ali Martinez warns that the rally has pushed NVDA to the top of a six-month price channel and is facing resistance, where he says it could see a pullback before a stronger breakout.