Nvidia shares reach record high as investors return after selloff

Nvidia is back on top of its own chart. Shares of the chipmaker hit a record high on October 2, 2026, the first time the stock has reached that territory since May. Not long ago, the stock was in a rough patch. A two-month selloff had wiped out more than $1 trillion in market value. The numbers behind the comeback Nvidia traded as high as approximately $237.75 during the session, a 2.9% gain on the day. That level clears the prior record close of $235.74, set on May 14, 2026. The move caps a recovery rally of nearly 25% from the lows the stock hit in late July. The rebound has pushed Nvidia’s market capitalization to approximately $5.7 trillion. That leaves the company less than $300 billion short of $6 trillion. Through early October 2026, the stock was up about 27% for the year. That puts Nvidia on track for a fourth consecutive year of double-digit returns. A $150 billion vote of confidence The latest leg higher followed a major corporate announcement. Nvidia’s board approved a $150 billion increase to its share repurchase program, the largest single additional buyback authorization in corporate history. With the new authorization, Nvidia’s total remaining buyback capacity stand...