NVIDIA shares have surged to fresh all-time highs near $238 on October 2, 2026, driven by a record $150 billion increase in its share repurchase authorization and sustained optimism around hyperscaler AI infrastructure spending. The stock’s recent 25% rally from July lows reflects renewed confidence in data-center revenue growth, reinforced by Morgan Stanley’s reinstatement as its top semiconductor pick and positive analyst commentary on fiscal 2028 earnings multiples. With next-quarter results not due until mid-November, near-term price action hinges on broader risk appetite and any incremental AI demand signals. Current levels around $235–237 set a high bar for further gains into the October 5 close, though the company’s strong balance sheet and capital-return program provide a supportive floor for trader sentiment.