Stock Market Today, Sept. 30: Nvidia Authorizes $150B Buyback, Lifting Total to $235B
Nvidia (NASDAQ:NVDA), an AI chip and networking provider, closed at $228.38, up 0.51%. Premarket buyback headlines and a session update on its AI safety accord kept investors focused on capital returns and AI demand.
Trading volume reached 117.7M shares, coming in nearly 5.2% below its three-month average of 124.1M shares. Nvidia IPO’d in 1999 and has grown 556,695% since going public.
The S&P 500 (SNPINDEX: ^GSPC) closed at 7,654, down 0.23%, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) finished at 26,861, up 0.24%. Among semiconductor peers, Advanced Micro Devices (NASDAQ:AMD) closed at $611.76, up 0.69%, and Broadcom (NASDAQ:AVGO) closed at $351.19, down 1.10%, as investors tracked accelerated computing, GPU, AI, data-center networking, and related software demand.
Although Nvidia stock rose only modestly today, it continues to ride high as it secures its future as one of the most essential AI companies. Its AI safety accord likely brings comfort to those concerned about out-of-control AI wreaking havoc on society.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.