Nvidia shares rose 1.2% in pre-open trading, moving within reach of their 52-week high, after the board approved a $150 billion addition to the company's share repurchase program. Morgan Stanley named Nvidia a Top Pick in semiconductors, Barclays raised its hyperscaler revenue estimate for the chipmaker, and Cantor Fitzgerald reiterated its Overweight rating.
Nvidia stock rose 1.2% in pre-open trading today. The move brought shares within reach of their 52-week high of $236.54, as a board-approved addition to the company's share repurchase program kept drawing buyers.
Board adds $150 billion to buyback program
The board approved a $150 billion addition to Nvidia's share repurchase program — the largest such authorization increase in corporate history. The move brought total remaining buyback capacity to $235 billion. CEO Jensen Huang tied the move directly to the company's confidence in its long-term AI-driven growth trajectory.
Analysts raise price targets
Morgan Stanley named Nvidia a Top Pick in the semiconductor sector. Barclays analyst Tom O'Malley identified at least $30 billion of potential upside to Nvidia's hyperscaler revenue in both 2026 and 2027 based on cloud providers' disclosed IT capital spending data. He lifted his 2027 estimate to approximately $401 billion. Cantor Fitzgerald reiterated its Overweight rating with a $350 price target one session earlier.
Amazon chip report adds to demand signals
A report that Amazon is seeking to move roughly $8 billion of Nvidia Grace Blackwell chips into a special-purpose vehicle further underscored the scale of demand for the company's hardware.
Broader market holds up despite bond selloff
The S&P 500 gained 0.5%. The Dow Jones added 0.5%. The Nasdaq led with a gain of 0.8%. Meanwhile, a global bond selloff pushed the U.S. 10-year Treasury yield to its highest level since 2002, a headwind that tempered risk appetite in rate-sensitive parts of the market — though AI-infrastructure names largely shrugged off the pressure.
Source: Investing.com
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