Nvidia Nears $6 Trillion Market Cap as Relentless AI Chip Demand Powers Record Growth Aditya Raghunath Mon, October 12, 2026 at 8:53 AM EDT 3 min read NVDA -0.57% AMZN +0.04% ORCL -1.77% MSFT +1.15% GOOG +0.30% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Price change for Nvidia stock in the last 6 months: 21%
$NVDA Stock Price as of Oct. 9: $229
Nvidia (NVDA:NASDAQ) shares hit another record this week. That pushed its market cap close to $6 trillion.
Demand for its GPUs is so strong that customers are looking for chips wherever they can find them.
They can rent from Amazon, Microsoft, and Google or use neoclouds like CoreWeave. Some buy the hardware directly, while Oracle is even letting clients bring their own GPUs.
Nvidia's customer base is also getting wider. Five clients made up at least 10% of its accounts receivable in the July quarter. That is up from three in January.
SemiAnalysis counted 323 Nvidia GPU providers as of September, up from 209 less than 11 months earlier.
Supply is tight. Amazon CEO Andy Jassy said in July that Amazon can't serve all the demand it sees this year.
He expects the same in 2027. CoreWeave's near-term capacity is essentially sold out. The hourly spot price for an Nvidia B200 GPU has more than doubled since March, Ornn says.
Nvidia stock is getting a lift from rising numbers. Nvidia guided to $108 billion in revenue for the October quarter. That's an 89% jump from last year.
In the latest quarter, revenue was $96 billion, more than double the prior year, while data center revenue was $89 billion.
Management says supply will limit growth, even as the company expects revenue to grow 70% in fiscal 2028.
CEO Jensen Huang said demand far outstrips supply. Vera Rubin, its newest platform, began production shipments this month. Investors in Nvidia stock will watch how fast it ramps.
The customer mix matters too. Huang said businesses outside the big cloud companies are about half of its data center sales.
That group includes neoclouds, governments, and enterprises. Nvidia stock is less tied to a few big buyers than before.
Nvidia guided gross margin to 74% next quarter. It expects margin to fall to 71%-72% the quarter after that.
Nvidia has also invested nearly $50 billion in AI labs. Management knows some people call that circular financing, and it disagrees.
Nvidia returned a record $26 billion last quarter. For now, demand is driving Nvidia stock, and supply can't fully meet it.
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