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NVIDIA’s market capitalization is its share price multiplied by its shares outstanding. On October 6, 2026, a market-data snapshot put the company’s market cap at $5.78 trillion and its share price at $239.24. Using NVIDIA’s SEC-reported share count of 24.3 billion from February 20, 2026, a $6 trillion market cap would imply about $246.91 per share—but that is only an illustration because the inputs come from different dates.
How is NVIDIA’s market capitalization calculated?
The formula is:
Market capitalization = share price × shares outstanding
It estimates the market value of a company’s equity at a particular moment, using the price at which its shares trade and the number of shares outstanding. StockAnalysis says its market-cap data comes from Nasdaq Data Link and that its current figure updates during the trading day, while historical figures update after the close. StockAnalysis’s NVIDIA market-cap page
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For NVIDIA, its fiscal 2026 Form 10-K reported 24.3 billion common shares outstanding as of February 20, 2026. That is a dated, rounded count—not a live share count. NVIDIA’s fiscal 2026 Form 10-K
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What does a $6 trillion market cap imply for NVIDIA’s share price?
Holding 24.3 billion shares constant, the arithmetic is $6 trillion ÷ 24.3 billion, or about $246.91 per share. This is an illustrative threshold, not a precise current target: it combines the February share count with a later October price observation, and the share count is rounded.
The October 6, 2026 snapshot listed NVIDIA at $239.24 per share and a market cap of $5.78 trillion. Compared with that price, $246.91 is about 3.2% higher. The comparison assumes the February share count remains unchanged; a precise same-date calculation requires the share count and price from that date. StockAnalysis’s NVIDIA market-cap page
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What a $6 trillion valuation does—and does not—mean
A $6 trillion market capitalization means the prevailing share price multiplied by the relevant outstanding-share count equals $6 trillion. It is not $6 trillion in company cash, annual revenue, enterprise value, or guaranteed proceeds that shareholders could collectively receive by selling at the quoted price.
Market cap and enterprise value are distinct measures. On October 6, 2026, StockAnalysis listed NVIDIA’s enterprise value at $5.75 trillion, alongside its $5.78 trillion market cap. Neither figure is a direct measure of annual business performance. StockAnalysis’s NVIDIA market-cap page
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For business-performance context, NVIDIA reported fiscal 2026 revenue of $215.9 billion, operating income of $130.4 billion, and diluted earnings per share of $4.90 for the year ended January 25, 2026. Those are results for a completed accounting period; they do not establish that a particular market capitalization is justified. Judging whether a valuation is reasonable requires assumptions about future growth, margins, risk, competition, capital needs, and the price investors are willing to pay. NVIDIA’s fiscal 2026 Form 10-K
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why NVIDIA’s market cap changes
The share price changes as investors trade the stock. The number of shares can change too, including through repurchases and other share issuance or withholding. Because market cap uses both inputs, a market-cap figure should be tied to a date; a price threshold derived from it should also identify the share-count date and assumption.
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NVIDIA’s fiscal 2027 second-quarter Form 10-Q reported that it repurchased 94 million shares for $19.7 billion during the quarter and 203 million shares for $39.8 billion in the first half. As of July 26, 2026, the company was authorized, subject to specifications, to repurchase up to $99.3 billion of its common stock. NVIDIA’s fiscal 2027 second-quarter Form 10-Q
On September 28, 2026, NVIDIA announced an additional $150 billion repurchase authorization, bringing the remaining authorized amount to $235 billion, with expected execution through fiscal 2028. An authorization permits repurchases; it does not mean the full amount has been spent or those shares have already been removed from the share count. Actual share-count effects depend on completed purchases and on other share issuance or withholding. NVIDIA’s September 28, 2026 repurchase announcement
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How to read a market-cap figure responsibly
- Check the date and whether the figure is an intraday quote or a closing snapshot.
- For a share-price threshold, use a share count from the same date as the price, and state whether the calculation uses basic shares or a diluted-share assumption.
- Keep market cap separate from enterprise value and accounting-period results such as revenue or operating income.
- Treat repurchase authorizations as permission, not completed transactions.
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