NVIDIA shares rose 1.5% in premarket trading on October 2, 2026, after Morgan Stanley reinstated the company as its top pick in the semiconductor sector. The firm cited the start of a new product cycle and sustained demand for AI and accelerated computing. It assigned NVIDIA an Overweight rating and a $300 price target, highlighting the company’s growth prospects, particularly its expansion into CPUs.
NVIDIA’s share repurchase authorization recently increased to $235 billion. The program is the largest in the company’s history and reflects management’s confidence in long-term growth. Major technology companies and AI developers continue to drive demand for NVIDIA’s AI infrastructure.