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Nvidia is closing in on a $6 trillion market value as strong demand for AI infrastructure pushes its stock to new records.
Nvidia shares have climbed to an all-time high as investors continue to bet on heavy spending on artificial intelligence infrastructure. The latest boost comes alongside record revenue from Foxconn, one of the world’s largest electronics manufacturers and a major producer of AI server systems.
Nvidia closed Monday, October 5, at a record high after gaining about 2.1%. The boost lifted the chipmaker’s market capitalization to roughly $5.76 trillion. The Nasdaq Composite also finished at a record high, supported by gains in Nvidia, Microsoft, and other major technology stocks.
The AI-driven flow remained strong on Tuesday. The S&P 500 briefly hit a new intraday record, while the Nasdaq also traded at record levels as investors continued to favor technology and AI-related companies.
Foxconn’s revenue gives investors another AI demand signal
Foxconn reported third-quarter revenue of T$3.03 trillion, or about $95.4 billion, up 47% from the same period a year earlier.
That was well above the T$2.83 trillion LSEG SmartEstimate cited by Reuters. September revenue alone rose 38% from a year earlier to a record T$1.16 trillion, marking the first time Foxconn’s monthly revenue exceeded T$1 trillion.
Foxconn said strong AI demand drove robust growth in its cloud and networking products business. Its smart consumer electronics business, which includes products such as Apple’s iPhone, also grew significantly.
This distinction matters. Foxconn’s strong quarter wasn’t driven by AI alone, but the company identified AI-related products as a major growth driver and expects its AI operations to continue expanding in the fourth quarter.
Foxconn has deep ties to Nvidia’s AI hardware ecosystem. The two companies are working together on advanced AI infrastructure, including systems built around Nvidia’s Vera Rubin platform, and Foxconn manufactures advanced Nvidia AI server systems.
Nvidia’s own results support the demand story
The Foxconn numbers add another piece of evidence to Nvidia’s already strong financial results.
In its latest reported quarter, Nvidia generated $96.2 billion in revenue, up 106% from a year earlier. Data Center revenue reached $89 billion, rising 117% year over year.
Nvidia also forecast approximately $108 billion in revenue for its fiscal third quarter, plus or minus 2%.
Those numbers help explain why investors remain willing to pay such a high market value for Nvidia. Demand is driven not only by expectations about future AI adoption. Nvidia is already recording rapid revenue growth as cloud companies, AI developers, enterprises and other customers spend heavily on computing infrastructure.
Nvidia moves closer to the $6 trillion mark
Nvidia’s record run has pushed the company into territory that no publicly traded company has previously reached.
After Monday’s push, Nvidia was valued at about $5.76 trillion. Reuters described the company on Tuesday as being within sight of a $6 trillion market capitalization.
Based on its current share count, Nvidia would need a stock price of roughly $249 to reach a $6 trillion valuation. The stock finished Monday at $238.90 and had already traded above $240 during the session.
That does not mean a $6 trillion valuation is guaranteed. Stock prices can reverse quickly, particularly after strong rallies. But the gap has narrowed enough that the milestone is now within normal market movement from the current price.
The wider AI chip rally remains strong
Nvidia is not the only semiconductor company benefiting from AI enthusiasm.
AMD has also traded around record levels, and CEO Lisa Su said Tuesday that the company plans to substantially increase chip supply in 2027 as it prepares for continued AI demand. AMD is Nvidia’s largest competitor in the AI graphics processor market.
Other parts of the AI supply chain are also reporting strong demand. That includes memory manufacturers, server companies, and data-center infrastructure providers.
For investors, this is significant because Nvidia’s growth increasingly depends on the broader AI infrastructure buildout continuing. Strong results from companies such as Foxconn provide independent evidence that demand remains active further down the supply chain.
Risks have not disappeared
Nvidia’s record valuation also raises the expectations the company must meet.
Investors will be watching whether large technology companies continue increasing AI capital spending, whether Nvidia can maintain strong margins as new products ramp up, and whether supply constraints limit shipments.
China remains another uncertainty. Nvidia’s latest fiscal third-quarter revenue outlook did not assume any Data Center compute revenue from China.
Infrastructure constraints also exist outside the chip industry. AI data centers require enormous amounts of electricity, and Morgan Stanley has warned that power shortages could delay some AI deployments, even if Nvidia itself is relatively well protected from immediate supply-chain impacts.
What it means for Nvidia stock
The latest Nvidia rally is being supported by more than market enthusiasm.
Foxconn’s 47% third-quarter revenue increase, Nvidia’s own triple-digit revenue growth, and continued spending on AI infrastructure all point to strong underlying demand. At the same time, Nvidia’s market value is now so large that investors are pricing in substantial future growth.
For now, that growth story remains intact.
Nvidia has returned to record territory, the broader technology market is reaching new highs, and fresh data from one of the world’s largest AI hardware manufacturers suggests that demand for AI infrastructure remains strong heading into the final quarter of 2026.
