Nvidia stock closes at record, pushing market cap past $5 trillion
NVIDIA CEO Jensen Huang gestures during the NVIDIA GTC global artificial intelligence conference on March 17, 2026 in San Jose, California.
Carlos Barria | Reuters
Nvidia Shares closed at a record high for the first time since October on Friday, pushing the company’s market value above $5 trillion as investors turned to AI chip trading ahead of next week’s gains from the tech’s hyperscalers.
The stock closed at $208.27, up 4.3%. Nvidia is up more than 14x since the end of 2022, driven by rising demand for AI services and models. Nvidia’s graphics processing units are trusted by Google. Microsoft, Meta And Amazon as well as model developers OpenAI and Anthropic.
Friday’s rally was fueled by the chipmaker’s better-than-expected earnings late Thursday IntelSomething that until recently was largely left out of the AI market. Intel shares rose 24%, their best performance since 1987.
Advanced Micro DevicesThe mobile device chip maker, which competes with Nvidia and Intel, increased by 14%. Qualcomm increased by 11%.
As oil prices soared due to the Iran war and subsequent supply chain disruptions, investors were pulling back on big tech stocks. But a broad swath of the technology has returned to favor recently, with demand for AI infrastructure showing no signs of slowing down.
The Nasdaq is currently up 15% in April, on track for its best month since April 2020.
Nvidia faces increasing competition in artificial intelligence. Alphabeta major Nvidia customer, has announced new chips that will try to match Nvidia’s offerings when they become available to cloud customers later this year.
WRISTWATCH: AMD will likely have the same gains as Intel
