Scott Melker, host of The Wolf Of All Streets podcast, reported on Wednesday, October 7, 2026, that Nvidia is on the cusp of reaching a $6 trillion market capitalization. Melker stated, "UPDATE: Nvidia $NVDA closed today at a record $239.24, valuing the company at $5.78 trillion, about 3.8% short of $6 trillion. No public company has ever reached a $6 trillion market cap. At the same time, the stock is up 28% in 2026, a rally that has added $1.2 trillion in market value. On March 30, $NVDA was down 11% for the year. The company has also authorized an additional $150 billion in share repurchases. $NVDA is the biggest single contributor to the S&P 500's ~14% gain in 2026. The AI trade is pushing the world's most valuable company toward a valuation no firm has ever reached."
The company's stock, NVDA, closed today at $239.24, marking a +0.1% gain. The AI chip surge has been a significant driver for major indexes, with recent Gokhshtein coverage noting AI chip demand concentrating market power in Taiwan and South Korea, and the S&P 500 and Nasdaq hitting records. Nvidia's performance has made it the largest single contributor to the S&P 500's gains this year.
Melker's update implies that the AI trade continues to exert substantial influence on market valuations, pushing leading technology companies to rare levels. Investors will likely watch Nvidia's trajectory closely to see if it becomes the first public company to achieve a $6 trillion market cap. The authorized share repurchases also suggest the company's confidence in its future performance and commitment to shareholder returns.
