Nvidia Corp. is nearing a $6 trillion market capitalization. Its stock returned to a record high. Investors rotated back into the AI chipmaker. The company gave a robust revenue outlook. It announced the largest share buyback in history. The buyback exploits a valuation near multi-year lows. Strong growth and a low multiple are driving the rally. Investors are also weighing high interest rates. They are also weighing tepid economic data.
What changed
Nvidia's stock had a disappointing start to the year.
- $6 trillion market capitalization
- $150 billion share buyback
Sources