Nvidia Hits Record High as Market Value Reaches $5.7 Trillion
Nvidia shares topped their May peak on Friday, according to Decrypt, ending a two-month selloff that erased more than $1 trillion in value, Bloomberg reports. Decrypt attributes the rebound partly to a record $150 billion buyback and a weak jobs report that cooled bets on Fed rate hikes. The stock is up about 27% this year, per Quartz.
- Quartz says market cap is less than $300 billion short of $6 trillion.
Reporting3
Bloomberg Nvidia Falls Short of May Record as Value Nears $6 Trillion · Carmen Reinicke
Decrypt Nvidia Hits Record High as Market Value Reaches $5.7 Trillion · Jose Antonio Lanz
Quartz Nvidia hits record close, nears unprecedented $6 trillion valuation · Cris Tolomia