Nvidia Soars to New All-Time High on Triple Catalysts
Nvidia broke through to a fresh all-time high of $237.87 on October 2, its first new record since May, trading at $234.79 (+1.70%) as of 2:18 PM EDT.
The move was driven by three converging forces: Nvidia's board-approved historic buyback authorization of an additional $150B in share repurchases, bringing the total remaining authorization to $235B through fiscal 2028; Morgan Stanley's return as its top semiconductor pick after meetings with CEO Jensen Huang, citing unabating AI demand and an 'undemanding' valuation relative to growth; and the bottleneck shifting from chip production to data center land, power, and financing.
The company's Q2 FY2027 earnings in late August guided Q3 revenue at $108B (4% above consensus) and projected FY2028 growth of ~70% vs. the 45% analysts had modeled.