Abstract:
Nvidia currently accounts for approximately 8% of the total market value of the S&P 500 Index. This overwhelming volume is almost entirely created by the artificial intelligence boom. The chip giant's market capitalization even exceeds the combined market capitalization of five of the index's 11 industry sectors.
Data released by Kobeissi Letter, an independent US macro market research newsletter, on the X platform shows that the market value of a single NVIDIA company has exceeded the combined market value of the five major sectors of the S&P 500 index: energy, utilities, real estate, consumer staples and raw materials; except for the information technology, communication services, finance, healthcare and consumer discretionary sectors, NVIDIA's market value is higher than all other industry sectors.
According to Kobeissi Letter, Nvidia’s market capitalization is now equivalent to 16.3% of U.S. GDP.
Since 2024, Nvidia and Apple have repeatedly competed for the throne of the world's most valuable company. Today, Nvidia's market value of US$5.41 trillion is still higher than Apple's US$4.74 trillion.
Nvidia surpassed Apple for the first time in June 2024 and became the world's most valuable company. After briefly losing its top position, it regained the championship from Microsoft in June 2025 and exceeded the US$5 trillion market value mark in October 2025.
Affected by changes in the technology market, Apple briefly regained the title of the world's most valuable company in July this year. Subsequently, Nvidia's latest strong financial report was released, pushing its market value back to the top of the list.
NVIDIA gave third-quarter revenue guidance of $108 billion, which means revenue growth of approximately 1,730% in four years. In modern history, no company of the same size has been able to achieve such a growth rate. Its second-quarter revenue of $96.22 billion topped Wall Street expectations of $92.11 billion.
Raymond James analyst Simon Leopold predicts that Ningwei's annual sales are expected to exceed US$1 trillion by fiscal year 2029.
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