Nvidia Stock Surges to Record High on Bullish Outlook
Nvidia's stock hit a record high of $240.10 after BNP Paribas raised its price target from $285 to $345, signaling a 44% upside from Monday's close. The move reflects strong market confidence in Nvidia's AI infrastructure capabilities. Meanwhile, Taiwan Semiconductor Manufacturing Company (TSMC) reached an all-time high of $487.47 amid discussions about Elon Musk's Terafab semiconductor initiative, though the collaboration has not been finalized.
Warner Bros. Discovery's stock climbed to a four-year high of $30.99 as its merger with Paramount Skydance entered its final operational stage. The deal marks a significant strategic shift for the company after months of uncertainty. Year-to-date, Nvidia, TSMC, and Warner Bros. Discovery stocks have gained between 7% and 60%, with retail investor sentiment shifting from 'bearish' to 'bullish'.
Nvidia's market capitalization surpassed $5 trillion, making it the only company globally to reach this level. The stock has gained 25% so far in 2026, doubling the market's return, while its shares have quintupled over the past three years and increased elevenfold over the last five years. The company's board also authorized a $150 billion share repurchase program, setting a new record for corporate buybacks.
The S&P 500 rose 0.7% to 7,773.95, and the Nasdaq 100 increased by 0.9%, reflecting strong investor confidence in technology stocks. Nvidia and Tesla each rose by 2%, while Meta and Microsoft recorded gains of nearly 2% and over 1%, respectively. This performance underscores the resilience of tech stocks in the current economic landscape.