Nvidia Stock Hits a Record Near $240 With a $150 Billion Buyback: What It Means for the Race to a $6 Trillion Market Cap

Nvidia stock set a new record on Monday, October 5, 2026, trading around $238 to $240 and moving within roughly $300 billion of a $6 trillion market value. No company has reached that level, so every new high now draws attention from both investors and options traders. The latest push came from two directions at once: a $150 billion increase to the buyback authorization and a fresh vote of confidence from Morgan Stanley, which restored Nvidia as its top semiconductor pick.

The move also raises a practical question for readers following Nvidia stock: how much of the $6 trillion story is already in the price, and what could slow it? This article looks at the buyback, the options-market odds, the demand signals behind the rally and the gap between Nvidia and other chip stocks, then covers how traders can follow the price on WEEX.

Nvidia Stock Breaks Its Old High Near $240

Nvidia's new 52-week high of $238.90 on October 5 cleared the previous high of $214.80 from May 14 by a comfortable margin. Other outlets reported intraday levels near $240, so the safest description is a record in the $238 to $240 range. The stock had traded as low as about $167 earlier this year, which means the climb from the low to the high is roughly 43%.

Because the shares are now above their previous high, technical analysts describe the stock as being in price discovery, where there is no recent resistance overhead. That does not guarantee further gains, but it explains why options activity has become concentrated on higher strikes. It also means the price has less historical reference for traders to anchor to.

The $150 Billion Buyback: Size, Timeline and Limits

Nvidia's board approved an additional $150 billion for share repurchases, bringing the remaining authorization to roughly $235 billion through fiscal 2028, according to investinglive. Against a market value near $5.7 trillion, the new $150 billion is about 2.6% of the company, and the full $235 billion is about 4.1%. These percentages are our own calculations from the reported figures.

An authorization is not a commitment to buy a fixed amount at a fixed pace. Nvidia can use it over several years, and the effect on the share count depends on how quickly it buys and at what prices. Still, a buyback of this size signals that management sees the shares as a good use of cash, and it adds a steady source of demand at a time when the stock is already at a record.

How Close Is the $6 Trillion Market Cap?

With about 24.1 billion shares outstanding, Nvidia needs a share price near $249 to reach $6 trillion, according to the options-based analysis reported by IBTimes. That is about 4% above the October 5 level of $238.90, and about 6% above the October 2 close of $233.95, when the market cap was roughly $5.65 trillion.

Options pricing gives a rough probability. Those traders implied about a 13% chance of reaching $6 trillion within the week, about 50% by the end of October and about 67% by December 18. These are market-implied estimates based on option deltas, not forecasts, and they change as the stock moves. The same analysis assigned roughly a 1-in-16 chance to $7 trillion by November 20, which would require a price near $290.

What Is Driving the Rally

Demand evidence has been strong. Foxconn reported record September revenue of NT$1.16 trillion, up 25.7% from August and 38.4% from a year earlier, and it assembles Nvidia-based GB200 and GB300 NVL72 server racks. Because those are complete rack systems, the data points to system-level AI buildouts rather than chip orders alone, according to Invezz.

Analysts have also moved higher. BNP Paribas raised its target to $345 from $285, and Bernstein kept an Outperform rating with a $400 target. Morgan Stanley described Nvidia as having sustained AI demand, a broadening customer base and a valuation it considers relatively undemanding. The Motley Fool also pointed to revenue of more than $215 billion last fiscal year and analyst forecasts above $411 billion for the current one, though forecasts of that size depend on AI spending continuing at today's pace.

The Catch: Nvidia Is Up 28% While Chips Are Up 96%

For all the record headlines, Nvidia has not led the sector in 2026. The stock is up roughly 28% year to date, while the semiconductor ETF (SOX) is up about 96%, according to investinglive. In other words, much of the chip rally has come from other companies, and Nvidia has been catching up rather than leading.

This cuts two ways. Bulls can argue that a lagging leader still has room to rise, especially with a low forward valuation compared with its growth. Bears can argue that the market is rewarding other parts of the supply chain, such as memory and manufacturing, while questioning how much more Nvidia can capture. The comparison does not predict direction, but it explains why the $6 trillion milestone is not a foregone conclusion.

Risks to Watch

The main risk is a slowdown in AI infrastructure spending. Large buyers of Nvidia hardware are spending heavily, and any sign that they are cutting budgets could change the outlook quickly. Custom chips from large customers are another risk, since a faster shift to in-house silicon could reduce demand for Nvidia's products over time.

A third risk is simply price. A stock near a record, with a market cap near $5.7 trillion, needs good news to keep rising, and short-term pullbacks are common even in strong uptrends. Broader economic weakness could also hit the AI sector as a whole. These risks do not cancel the bull case, but they are the reasons options markets still price a meaningful chance that the $6 trillion mark is not reached this month.

Trading NVDA Price Moves on WEEX Spot and Futures

Nvidia is available on both WEEX Spot and WEEX Futures, which gives traders two different ways to approach a milestone story like $6 trillion. On Spot, a trader pays in USDT and holds the position outright, with no leverage and no liquidation, which suits someone who wants to hold through a volatile run toward $249 without being forced out by a sharp intraday dip.

WEEX Futures suits a different style. A trader who expects the stock to stall near a round number level, or who wants to hedge an existing Nvidia position, can use futures to take either direction. Leverage can amplify gains but also losses, and positions can be liquidated if the price moves against them, so traders need to size positions carefully and understand the margin rules before opening one.

Either product gives price exposure to NVDA, not ownership of Nvidia shares or shareholder rights such as voting or dividends. Traders should check current liquidity and spreads on the order book before placing orders. WEEX also maintains a 1,000 BTC protection fund, details at weex.com/protectfund.

Conclusion

Nvidia stock enters October 6 with a record price, a larger buyback and a market cap within reach of $6 trillion. Options markets see roughly even odds for October, and the next few weeks will show whether demand signals such as Foxconn's revenue and analyst upgrades can carry the price to about $249. The gap between Nvidia's 28% gain and the chip sector's 96% is a reminder that a record high is not the same as a leading performance. Readers should check the latest price and treat all odds as estimates.

FAQ

1. Why did Nvidia stock hit a record on October 5, 2026?
It rose after the board added $150 billion to the buyback and Morgan Stanley named it a top semiconductor pick, along with strong Foxconn revenue.

2. What share price does Nvidia need for $6 trillion?
About $249, based on roughly 24.1 billion shares outstanding.

3. What are the odds of Nvidia reaching $6 trillion?
Options pricing implies about 50% by the end of October and about 67% by December 18. These are market estimates, not predictions.

4. How large is Nvidia's buyback?
The board added $150 billion, bringing the remaining authorization to roughly $235 billion through fiscal 2028.

5. Can NVDA be traded on WEEX?
Yes, NVDA is available on both WEEX Spot and WEEX Futures. Both give price exposure, not ownership of Nvidia shares.