Nvidia shares reached a new intraday high of about $237.83 on October 2, surpassing the previous May record, after Morgan Stanley restored the chipmaker as its top semiconductor pick. The firm retained its Overweight rating and $300 price target after analyst Joseph Moore met with CEO Jensen Huang and CFO Colette Kress, citing Nvidia's product cycle and expanding demand from AI labs and agentic AI. The stock's advance also coincided with a broader rally after weaker-than-expected US jobs data reduced expectations for another near-term Federal Reserve rate increase, while the Nasdaq entered record territory. Nvidia had previously expanded its share-buyback authorization by $150 billion, leaving $235 billion available for repurchases. Across 61 analysts tracked by S&P Global, Nvidia's average price target stands at $327.70, implying roughly 40% upside from Friday's close. Investors remain focused on whether AI infrastructure spending can sustain Nvidia's valuation amid elevated expectations, financing constraints and competition.