Nvidia shares climbed more than 2.5% Friday to an intraday record, breaking above their previous all-time high as renewed optimism around artificial intelligence spending combined with the chipmaker's record share buyback authorization. The stock was last up 2.9% at $237.75, a fresh record for the first time since May, extending a rally that has lifted the shares roughly 27% this year. The move follows Nvidia's board authorization this week of an additional $150 billion for share repurchases, bringing its total remaining authorization to $235 billion through fiscal 2028, the largest such authorization in corporate history. Morgan Stanley reinforced the optimism Friday by reinstating Nvidia as its top semiconductor pick after meetings with CEO Jensen Huang and other executives, citing continued strength in AI demand and an expanding customer base. The firm also said the AI infrastructure bottleneck is shifting from semiconductor production toward data center land, power and financing, constraints it believes could favor Nvidia as customers seek to maximize computing output from limited electricity.
NVIDIA CorporationNvidia authorized a record $150 billion additional share buyback, bringing total remaining authorization to $235 billion.
Morgan StanleyMorgan Stanley reinstated Nvidia as its top semiconductor pick, an analyst call that reflects positively on the firm's research stance.
