Nvidia hit a fresh intraday all-time high of $243.37 Tuesday and closed around $238.90, lifting market value to roughly $5.78 trillion — about $249 a share would make it the first company ever at $6 trillion. The stock is up roughly 28% in 2026, adding about $1.2 trillion in market cap, with Monday's record $150 billion share-repurchase authorization still providing a tailwind. Options pricing implies roughly a 50% chance of clearing $6 trillion by month-end and about 67% by December 18.
AMD rallied more than 4% Tuesday to an all-time high above $658 after Citigroup's Atif Malik raised his target to $800 from $575 (Buy) and Stifel went to $700. Citi's thesis: personal AI agents like Meta's Muse drive a step-change in general-purpose compute, with the CPU market reaching $300 billion by 2030. AMD is up roughly 200% year to date.
Anthropic is aiming to begin formal IPO marketing the week of November 9 and start trading before Thanksgiving, at a valuation reported near $2 trillion — roughly double the $965 billion mark set in May. At that level the raise could exceed $100 billion, which would be the largest listing on record. Reuters reporting on the prospectus cites a $42 billion net loss last year and roughly $518 billion in planned cloud and compute spend ahead.
Bloomberg reports OpenAI is in early discussions with UAE funds, led by MGX, plus BlackRock to anchor a $30 billion raise at about a $1.4 trillion pre-money valuation. MGX alone could contribute up to $10 billion. OpenAI last raised at an $852 billion valuation in March and has now pushed any IPO to 2027 at the earliest.
Marvell guided fiscal 2028 revenue to about $20 billion, above the $18.2 billion consensus, and set a fiscal 2031 target of $70 billion to $90 billion with more than $30 in non-GAAP EPS, against a $400 billion addressable market by 2030. Shares briefly dipped 3% at the open of the meeting, then ripped as much as 10% before settling up roughly 4% to 7%. It's giving back about 2% in Wednesday premarket, near $281.
The S&P 500 rose 0.58% to 7,818.93 and the Nasdaq Composite added 0.45% to 27,599.79, both record closes; the Dow gained 253.38 points, or 0.49%, to 51,521.28. Cooler Treasury yields and a dip in crude took some pressure off, letting the AI complex lead. Nvidia and AMD all-time highs did most of the heavy lifting.
The S&P 500 software and services index rose 1.3% Tuesday to its highest level since November 2025, following its biggest quarterly gain since Q2 2020. LSEG data shows 2026 expected earnings growth for the group at 20.6%, up from 13.8% at the end of March. CrowdStrike, Fortinet and Palo Alto Networks are all sitting on triple-digit percentage gains this year.
Meta closed Monday at $741.90 for a $1.89 trillion market cap, up roughly 20% since Muse launched a month ago, after its best month since 2022 in September. Downloads outpaced the ChatGPT and Gemini debuts, topping 2.5 million US installs by September 23, and Evercore's Mark Mahaney sees a path to 100 million users within six to twelve months. CNBC's Wednesday framing is the risk case: Muse has to convert novelty into durable engagement and paid tiers at $20 and $100 a month.
Barclays maintained Overweight on Taiwan Semiconductor Tuesday and raised its target to 665 from 650. ASML reports Q3 on Wednesday, October 14, with consensus near $12.07 EPS on about $13.16 billion in revenue — the cleanest read on 2027 advanced-node capex we'll get this month. J.P. Morgan has already marked up its TSMC capex forecasts, citing structural shortage at leading edge.
Representatives from OpenAI, Anthropic, Meta and Google told New York City lawmakers Tuesday they cannot promise their AI agents will always stay inside safety guardrails. Separately, Commerce has scrapped its planned AI chip export rule while signaling a tougher revised framework that could tie export permissions to overseas investment commitments, keeping supply-chain eligibility unsettled. An August executive order banning Chinese-linked grid and data-center equipment also awaits DOE implementing rules due December 24.
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