LIVE: Nvidia on track to hit world-record $6 trillion market cap

Wall Street pushed further into record territory Tuesday, helped by another run in major semiconductor shares and a drop in Treasury yields.

The S&P 500 finished 0.58% higher at 7,818.93, setting a new closing record after also reaching an intraday peak. The Dow Jones Industrial Average added 253.38 points, or 0.49%, to 51,521.28.

The Nasdaq Composite gained 0.45% to 27,599.79, another record finish. It also reached a new high during Tuesday’s session.

Chip stocks were among the strongest performers. Marvell Technology jumped 5.8%, Advanced Micro Devices rose nearly 3%, and Broadcom climbed 3.7% as traders responded positively to the outlook for the companies.

Crude barely moved by the close. Brent added 0.26% to $100.58 a barrel, while West Texas Intermediate finished almost unchanged, gaining 0.01% to $89.44.

Away from the rally, investor Michael Burry argued Tuesday that markets have entered what he sees as the denial phase of a broader reckoning over the AI trade.

Michael compared the present setup with the periods surrounding 2000 and 2008, saying he believes this initial phase could run for roughly six to nine months.

Michael became widely known for betting against the U.S. housing market before the 2007-2009 financial crisis. He is now positioned against several businesses tied to artificial intelligence.

His criticism has recently focused on Nvidia’s accounting for GPU depreciation. Michael has argued that the useful-life assumptions around the hardware expose how quickly the economics of the product cycle can change and give bearish investors another reason to question valuations.

He has also warned about financing behind the data-center boom. In an Oct. 1 newsletter, Michael said insurance businesses controlled by large private-equity firms could face problems if loans and bonds tied to data centers begin running into trouble.

Bitcoin is sitting around $85,603, down 0.18%, while the wider derivatives market is showing little change. Total open interest stands at $154.81 billion, lower by 0.04%, while liquidations have dropped 41.66% to $143.65 million.

Momentum readings are sitting near the middle. The market’s average RSI is 50.17, which is classed as neutral, while the Altcoin Season Index is at 70 and is also showing a neutral reading.

The Fear & Greed Index is at 74, putting crypto sentiment firmly in greed territory. Bitcoin’s share of the overall crypto market has edged 0.14% higher to 59.06%.

Bitcoin held on exchanges has increased by 148 BTC, bringing the tracked exchange balance to 2.45 million BTC.

Outside crypto, gold futures are up 0.55% at $4,163.15, while the U.S. Dollar Index is almost flat, rising 0.03% to 101.640.

Among the largest digital assets, Ethereum is changing hands at $2,696.51, down 0.63%, while Solana is bucking the weakness with a 0.39% gain to $120.95.

HYPE is trading at $92.166 after sliding 2.76%. XRP is down 0.21% at $1.5015, while Zcash has eased 0.23% to $1,344.94.

The crypto-linked XAU market is one of the few names in positive territory, rising 0.53% to $4,166.73.

Bitcoin’s listed funding reading stands at 0.0036%, compared with 0.0095% for Ethereum, 0.0093% for Solana, -0.0068% for HYPE, 0.0057% for XRP, 0.0075% for Zcash and 0.0110% for XAU.

Bitcoin’s reported derivatives turnover is $49.58 billion, down 27.57%, while Ethereum is at $30 billion, lower by 27.11%. Solana is at $6.36 billion, down 3.54%, HYPE stands at $2.16 billion, down 25.08%, and XRP is at $2.76 billion, lower by 15.72%.

Zcash shows $5.63 billion, down 14.67%, while XAU is at $3.94 billion, up 17.39%.

Separate derivatives readings show $55.63 billion for Bitcoin, $34.20 billion for Ethereum, $7.33 billion for Solana, $3.58 billion for HYPE, $3.55 billion for XRP, $2.84 billion for Zcash and $2.12 billion for XAU.

Their accompanying percentage moves are +0.08% for Bitcoin, +0.34% for Ethereum, +0.06% for Solana, +0.66% for HYPE, +0.49% for XRP, -0.65% for Zcash and -0.90% for XAU.

A second set of short-term readings shows Bitcoin at +0.68%, Ethereum at +0.36%, Solana at -1.21%, HYPE at -3.49%, XRP at -0.71%, Zcash at +0.17% and XAU at +0.18%.

The final tracked figures stand at $28.74 million for Bitcoin, $16.80 million for Ethereum, $4.24 million for Solana, $626,450 for HYPE, $1.98 million for XRP, $4.38 million for Zcash and $1.47 million for XAU.

Crypto-linked equities are moving in both directions, with some of the smaller names posting sharp gains while several of the sector’s biggest stocks trade lower.

Robinhood Markets is down 1.84% at $112.01, while MercadoLibre is off 0.10% at $1,858.79. Strategy is up 0.12% at $164.62, but Coinbase Global has dropped 1.26% to $185.84.

Block is gaining 0.43% at $76.56, PayPal Holdings is up 0.37% at $54.61, and Circle Internet Group has climbed 1.00% to $84.13. Net Holding is down 0.27% at $37.28, while Nexon has fallen 3.18% to $16.45.

Among crypto miners and infrastructure names, IREN is up 1.93% at $41.26, while Bitmine Immersion Technologies is down 2.20% at $26.20 and Galaxy Digital Holdings is lower by 2.16% at $22.16. Hut 8 is one of the stronger large movers, rising 3.21% to $92.14.

GameStop is down 1.84% at $24.77, while Neptune Digital Assets has dropped 4.48% to $0.64. TeraWulf is up 1.28% at $14.98, Riot Platforms is off 2.02% at $18.93, and Cipher Digital is edging 0.19% higher to $15.51.

Figure Technology Solutions is down 2.04% at $27.37, while Core Scientific is up 0.48% at $16.68. Bullish has slipped 2.88% to $33.36, and Rumble is moving the other way, climbing 3.52% to $7.64.

MARA Holdings is down 1.70% at $10.98, Alliance Resource Partners is off 0.50% at $24.66, and Bitdeer Technologies Group is down 0.09% at $10.92. CleanSpark has fallen 1.52% to $12.29, while Strive is down 1.73% at $29.73.

The biggest jump in the group so far belongs to Greenidge Generation Holdings, which is up 9.74% at $2.14. Keel Infrastructure is gaining 0.29% at $3.46, while Metaplanet is down 0.56% at $1.79.

Securitize is also having a strong session, rising 8.50% to $12.70. SharpLink is down 0.94% at $9.50, Twenty One Capital has lost 2.32% to $6.53, and American Bitcoin is down 3.10% at $8.44.

BitGo Holdings is trading 2.57% lower at $7.19. HIVE Digital Technologies is up 0.17% at $2.90, while Gemini Space Station is down 2.10% at $4.67. Forward Industries is up 0.37% at $8.14, and Bit Digital is down 1.30% at $1.52.

Meliuz is off 1.90% at $5.16, Prenetics is down 2.10% at $20.52, and ProCap Financial has slipped 0.26% to $3.91. Boyaa International is unchanged at $0.43.

Canaan is down 2.88% at $0.32, while Exodus Movement is off 1.09% at $6.78. Kulr Technology Group is up 1.57% at $2.59, and Bitcoin Group SE is down 1.96% at $27.98.

Some of the smallest names are showing the day’s sharpest swings. Intchains Group is up 7.37% at $1.02, Nano Labs is gaining 1.87% at $2.18, and Sol Strategies has jumped 7.60% to $1.84.

Argo Blockchain is up 1.78% at $2.29, while Genius Group has dropped 5.71% to $0.15, making it one of the weakest performers in the group. Fold Holdings is up 2.85% at $0.58.

Nvidia is now within touching distance of becoming the first company in history to reach a $6 trillion market value, as investors pile back into the AI chipmaker and push its shares to another record high.

The rally has been fueled by two factors that are currently appealing to Wall Street: growth and cheap valuation.

Nvidia recently provided shareholders with an aggressive revenue forecast and followed it up with the biggest share repurchase program ever, in a period where the company’s valuation multiple is trading close to multi-year lows. This is becoming more evident amid high interest rates and weak economic data.

Nvidia shares are up 28% this year, adding roughly $1.2 trillion to the company’s market value and lifting it to just under $5.8 trillion. The chipmaker has also been the biggest single contributor to the S&P 500’s 14% gain in 2026.

That turnaround looked far from certain earlier this year. Nvidia was still down 11% for 2026 on March 30, when investors were questioning whether the hundreds of billions of dollars being poured into AI infrastructure could actually deliver enough returns.

The stock market is carrying that rally straight into Tuesday. S&P 500 futures rose 0.25%, Dow futures climbed 0.48%, and Nasdaq-100 futures gained 0.26% in early trading.

That follows another strong session Monday, when the Nasdaq Composite jumped about 1% to an all-time high and record close. The Dow rose about 90 points, or 0.2%, while the S&P 500 gained 0.7%.

Stocks that fell in tandem with AI gained momentum. SpaceX saw a rise of over 7%, Nvidia gained over 2%, and Tesla rose by over 2%. Both Meta Platforms and Microsoft were also higher by 1%.

Asian markets had a split trading session yesterday. The Nikkei 225 index of Japan went up 0.29%. In Australia, the S&P/ASX 200 saw gains of 0.53%. The Kospi index of South Korea fell 0.23% but the Hong Kong Hang Seng was 0.95% up.

Oil was also trying to recover after Monday’s pullback. Brent crude fell 1.9% to $100.32 a barrel, while West Texas Intermediate dropped about 1.8% to $89.43. Both were trading slightly higher Tuesday.