Nvidia shares hit first record since May
The chip giant's shares gained 2.5% to reach $236.59, pushing its market value to $5.7 trillion.
Nvidia stock surpassed its intraday record from May 14 with a 2.5% increase, reaching a new peak.
Latest Status of Stock Prices
The company's shares rose by up to 2.5% to $236.59, surpassing the intraday record of $236.54 recorded on May 14.
Value Gain During the Year
The chip giant's stock has gained approximately 25% since its late-July low and is up about 30% for the year.
Comparison with Indices
This performance outpaced the 22% gain in the Nasdaq 100 Index, while lagging behind the Philadelphia Stock Exchange Semiconductor Index, which recorded an 86% increase.
Market Value and Record Target
This rally brought Nvidia's market value to $5.7 trillion, placing the company very close to the $6 trillion level that no company has previously surpassed.
Factors Supporting the Rise
Nvidia shares were supported by an exceptional revenue forecast announced in August, and at the end of September, the company increased the size of its share buyback plan by $150 billion.