Nvidia soars near $6 trillion market cap with stock back at high

Nvidia Corp. is on the verge of becoming the first company with a $6 trillion market capitalization as investors rotate back into the artificial-intelligence chipmaker after a disappointing start to the year.

The stock is once more at a record high after the company gave a robust revenue outlook and announced the biggest buyback in history, which takes advantage of a valuation that’s near multi-year lows. Those twin pillars — strong growth and a cheap multiple — stand out, especially as investors grapple with high interest rates and tepid economic data.