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Nvidia stock hits record high, market value nears $5.7 trillion

The rise follows a record $150 billion buyback and comes as a weak jobs report cooled expectations for Fed rate hikes.

Reported · Written up by our desk · Equities

Nvidia shares hit a record high on Friday, trading around $237.88 in morning activity and pushing the company’s market value to roughly $5.7 trillion, its first record since May, according to Decrypt.

The outlet said the stock move was supported by a record $150 billion buyback, while a weak jobs report helped cool expectations for additional Fed rate hikes.

Nvidia’s shares have also gained more than 40% since its March 30 low of $165.17, Decrypt added, framing the rally in the context of the company’s rapidly expanding market capitalization.

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