Shares of U.S. AI chip giant Nvidia have just set a new all-time high, rising in trading on Wall Street today, Tuesday, October 6, 2026, to as much as $240.92.
The stock closed yesterday’s session at $238.90, a new record closing high and the first since last May, lifting the Big Tech company’s market capitalization to $5.76 trillion.
Nvidia heads toward a $6 trillion market cap
Nvidia is therefore about to reach another milestone: a market value of $6 trillion.
Wall Street is already talking about it. Barron’s, citing Dow Jones Market Data calculations, notes that for the semiconductor giant to reach a $6 trillion market cap, its shares would need to trade above $248.96, assuming the number of shares outstanding stays the same.
That figure is subject to change, however, because Nvidia is currently carrying out the largest share buyback in history.
BNP Paribas turns more bullish on Nvidia
Some believe the $6 trillion threshold will be reached and even surpassed. Among them is Karl Ackerman, an analyst at BNP Paribas Equity Research, who in a research note published yesterday, Monday, October 5, 2026, raised his price target on Nvidia stock to $345 from $285. He pointed to the spread of AI agents, which will require more hardware, as the growth driver.
As Ackerman put it, «Nvidia’s broad portfolio of rack-scale AI hardware, combined with its extensive CUDA software libraries, is unrivaled and probably becomes even more important with agentic AI.»
In effect, Nvidia does not just sell individual GPUs (graphics processing units) but complete systems in which GPUs, CPUs, memory, and networking and interconnect components are designed to work together inside an entire rack. The rack can then operate almost like a single large AI computing system, improving communication between components and reducing bottlenecks.
According to Ackerman’s analysis, Nvidia therefore does not need to change much from what it is already doing, given its dominance of the AI chip market.
Rack-scale co-design to lock in gross margins above 70%
The BNP Paribas analyst has great confidence in Nvidia and believes the company is set to capture more than three-quarters of the AI computing power market in dollar terms.
His price target, he explained, is based on a price/earnings multiple of just 15 times the earnings he expects for the company in 2028.
He also commented on the company’s competitive position:
«Nvidia is the most profitable semiconductor company, and we believe its moat in CUDA software and its advanced rack-scale co-design capabilities will allow it to sustain gross margins above 70% despite competitive threats.»
Meanwhile, Barron’s recalled that Nvidia was its stock pick in May, when the shares traded around $226. At the time, «we wrote that the stock could reach $300 over the following 12 months.» Based on what is happening now, the magazine says today that «the path now seems set.»
Editor’s note
This article was originally published in Italian on money.it by Laura Naka Antonelli on October 06, 2026 as «Azioni Nvidia al massimo della storia. Il gigante dei chip per l’AI verso una capitalizzazione di $6 trilioni». It has been translated and adapted for an international audience by the Money.it International desk.
