Nvidia Surges to Record High Amid AI Demand Boom
Nvidia has reached an all-time high price of $237.88, making it the world's largest company by market cap with a value of about $5.7 trillion.
The stock has gained nearly 14% since September 14, rising from $208.93 to its current record high. This surge was 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. The bank said that demand for AI infrastructure remains strong, while limited data center space, power, and funding are creating new challenges for the industry.
Nvidia's expansion of its share buyback plan by $150 billion, taking its remaining authorization to $235 billion through fiscal 2028, also contributed to the stock's rise. However, chart analyst Ali Martinez is cautious, warning that the rally may be a fakeout or a breakout.