Nvidia approaches $6 trillion market cap as stock hits record high

Nvidia approached a $6 trillion market capitalization on Tuesday as its stock climbed to another all time high, extending a rally that has made the chipmaker the world’s most valuable listed company.

Shares rose as much as nearly 2% on Tuesday morning, reaching a record $243.37 before giving up some of those gains. Nvidia remained higher on the day, pushing its market value above $5.8 trillion and closer to a threshold no company has ever reached. Nvidia would need to trade at roughly $249 per share to reach a $6 trillion valuation.

The stock has risen about 28% in 2026, adding roughly $1.2 trillion to Nvidia’s market capitalization. Apple, the second largest company by market value, was valued at about $4.86 trillion as of Monday, leaving a gap of roughly $900 billion between the two companies.

Nvidia has also contributed more than any other company to the S&P 500’s roughly 14% advance this year, according to Bloomberg data.

The rally follows another strong earnings report from Nvidia. The company reported $96.2 billion in fiscal second quarter revenue, up 106% from a year earlier, and forecast third quarter revenue of $108 billion, plus or minus 2%. Nvidia also reported $89 billion in data center revenue during the quarter, up 117% from a year earlier.

Nvidia added another catalyst in late September when its board authorized an additional $150 billion under its existing share repurchase program, increasing its remaining authorization to $235 billion. The company expects to execute the remaining program through fiscal 2028.

“This authorization reflects our confidence in the long term opportunity ahead,” Nvidia CEO Jensen Huang said. Huang has also described Nvidia as “the world’s first and only growth value stock,” arguing that the company combines rapid growth with a valuation that remains relatively low compared with its historical levels.

The advance marks a sharp reversal from earlier this year. Nvidia shares were still down about 11% for 2026 as of March 30, when investors were increasingly questioning whether the hundreds of billions of dollars being committed to AI infrastructure would generate sufficient returns.

Sentiment has since shifted as spending on AI infrastructure has continued and Nvidia has maintained a strong revenue outlook.

Nvidia’s growing dominance has also extended beyond selling chips. The company’s equity investments in AI companies reached $99 billion as of July 26, up from roughly $7 billion a year earlier. Nvidia has committed more than $40 billion to investments in 2026 alone across frontier AI labs, infrastructure providers and other companies across the AI ecosystem.

The chipmaker also agreed in September to acquire open source AI platform Hugging Face for about $12.9 billion. The transaction includes roughly $11.9 billion for shareholders and up to $1 billion in equity based retention awards, with the deal expected to close in the first half of 2027.

Nvidia’s rise has also increasingly crossed into crypto markets as tokenized stocks have expanded onchain. As the largest company in the world by market capitalization, Nvidia is now represented by several tokenized equity issuers that allow eligible investors to gain exposure to its shares through blockchain based assets.

xStocks offers Nvidia as NVDAx, a token backed one to one by underlying Nvidia shares held in custody. Ondo Finance offers Nvidia through NVDAon, which is fully backed by underlying shares and cash in transit and is available across networks including Ethereum, Solana and BNB Chain.

Other issuers have also brought Nvidia onchain. Coinbase offers NVDAc through its tokenized stocks platform on Base. Robinhood Europe offers its own NVDA Stock Token, although its structure differs because the product is a derivative contract that tracks Nvidia shares rather than conveying ownership of the underlying stock.