Nvidia Closes at $238.90 as Investors Weigh AI Growth

Nvidia shares gained 2.12% to close at $238.90 on Oct. 5 as investors weighed the chipmaker’s rapid AI-related growth and its expanded share-repurchase authorization. The stock reached an intraday high of $240.10.

For the quarter ended July 26, Nvidia recorded $96.2 billion in revenue, up 106% from a year earlier. Data Center revenue climbed 117% to $89 billion, and gross margin was 75%.

Nvidia makes graphics processing units and related systems used to train and run artificial intelligence models. Founder and CEO Jensen Huang said, “AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue.”

The company’s board added $150 billion to its share-repurchase authorization on Sept. 28, bringing the remaining authorization to $235 billion. Nvidia expects to carry out the remaining program through fiscal 2028. The authorization allows repurchases but does not require the company to buy the full amount immediately.

Hon Hai Precision Industry, which operates as Foxconn, recorded unaudited September revenue of NT$1.159 trillion, up 38.42% from a year earlier. Its August financial outlook projected that AI server-rack shipments in 2026 would more than double from 2025.

The quarterly results and supplier figures show recent growth in AI infrastructure demand, but do not establish Nvidia’s future earnings or stock performance. Nvidia’s remaining repurchase program is expected to run through fiscal 2028.