Nvidia Stock Nears Record High as AI Expansion Accelerates

Nvidia shares extended their recent rally on Friday, moving close to a record high as strong interest in artificial intelligence continued to support semiconductor stocks.

Nvidia Stock Gains as AI Demand Rises

Nvidia stock climbed as much as 2% during the session, putting it within reach of its previous closing record of $235.74, set on May 14. The shares were recently trading around $230.44, up 0.87%.

The move followed gains in other AI-focused chip stocks and came as reports emerged that Anthropic could soon begin preparations for an initial public offering. Nvidia committed up to $10 billion to the AI company last year.

Nvidia Expands AI Ecosystem

Nvidia also announced a nearly $13 billion acquisition of Hugging Face, an AI model platform used by more than 18 million developers and creators and 200,000 companies.

The company is also expanding into custom AI hardware. Earlier this week, Nvidia announced a $3.5 billion investment in Taiwanese chip designer MediaTek, which plans to use Nvidia’s NVFusion platform for custom accelerator chips.

The moves show Nvidia is broadening its reach beyond GPUs and seeking deeper connections across the rapidly growing AI industry.