NVIDIA Rises Toward Highs on Buybacks, Upbeat Calls

Key Moments

Pre-Market Rally Nears 52-Week High

NVIDIA stock climbed 1.2% in pre-open trading, bringing the shares closer to their 52-week high of $236.54. The move came as investors responded to a powerful combination of an unprecedented share repurchase authorization and a series of upbeat analyst updates.

The central driver has been the company’s board decision to add $150 billion to NVIDIA’s share repurchase program. This expansion – described as the largest increase to a buyback authorization in corporate history – raised the total remaining capacity to $235 billion. CEO Jensen Huang linked this decision directly to NVIDIA’s confidence in its long-term growth path tied to artificial intelligence.

Analysts Highlight AI-Driven Upside

Alongside the capital return news, several major Wall Street firms issued supportive views on NVIDIA’s outlook, amplifying bullish sentiment around the stock.

• Morgan Stanley designated NVIDIA as a Top Pick within the semiconductor space.
• Barclays analyst Tom O’Malley pointed to at least $30 billion of potential upside to NVIDIA’s hyperscaler revenue in both 2026 and 2027, raising his 2027 estimate to roughly $401 billion, citing cloud providers’ disclosed IT capital expenditure data.
• Cantor Fitzgerald reaffirmed its Overweight rating and maintained a $350 price target in the prior session.

In addition, a report that Amazon is seeking to place approximately $8 billion of NVIDIA Grace Blackwell chips into a special-purpose vehicle further highlighted the size of ongoing demand for the company’s hardware.

Market Backdrop: Tech Outperforms Despite Bond Pressure

Broader equity markets were generally supportive, with major U.S. indices trading higher. The S&P 500 advanced 0.5%, the Dow Jones gained 0.5%, and the NASDAQ – where NVIDIA is listed – outperformed with a 0.8% rise.

However, a global selloff in bonds pushed the yield on the U.S. 10-year Treasury to its highest level since 2002. This has weighed on risk appetite in more rate-sensitive segments of the market. Despite this macro headwind, AI-infrastructure related stocks, including NVIDIA, have largely continued to hold up.

AI Investment Theme Remains Intact

The interplay of NVIDIA’s record-breaking capital return plan, renewed conviction from major analysts, and an environment where technology shares are still showing resilience has set up a strong pre-market tone for the stock. With the shares trading close to their all-time high, the developments reinforce the view that spending on AI infrastructure remains robust.