LIVE: Nvidia on track to hit world-record $6 trillion market cap

Nvidia is now within touching distance of becoming the first company in history to reach a $6 trillion market value, as investors pile back into the AI chipmaker and push its shares to another record high.

The rally has been fueled by two factors that are currently appealing to Wall Street: growth and cheap valuation.

Nvidia recently provided shareholders with an aggressive revenue forecast and followed it up with the biggest share repurchase program ever, in a period where the company’s valuation multiple is trading close to multi-year lows. This is becoming more evident amid high interest rates and weak economic data.

Nvidia shares are up 28% this year, adding roughly $1.2 trillion to the company’s market value and lifting it to just under $5.8 trillion. The chipmaker has also been the biggest single contributor to the S&P 500’s 14% gain in 2026.

That turnaround looked far from certain earlier this year. Nvidia was still down 11% for 2026 on March 30, when investors were questioning whether the hundreds of billions of dollars being poured into AI infrastructure could actually deliver enough returns.

The stock market is carrying that rally straight into Tuesday. S&P 500 futures rose 0.25%, Dow futures climbed 0.48%, and Nasdaq-100 futures gained 0.26% in early trading.

That follows another strong session Monday, when the Nasdaq Composite jumped about 1% to an all-time high and record close. The Dow rose about 90 points, or 0.2%, while the S&P 500 gained 0.7%.

Stocks that fell in tandem with AI gained momentum. SpaceX saw a rise of over 7%, Nvidia gained over 2%, and Tesla rose by over 2%. Both Meta Platforms and Microsoft were also higher by 1%.

Asian markets had a split trading session yesterday. The Nikkei 225 index of Japan went up 0.29%. In Australia, the S&P/ASX 200 saw gains of 0.53%. The Kospi index of South Korea fell 0.23% but the Hong Kong Hang Seng was 0.95% up.

Oil was also trying to recover after Monday’s pullback. Brent crude fell 1.9% to $100.32 a barrel, while West Texas Intermediate dropped about 1.8% to $89.43. Both were trading slightly higher Tuesday.