A technology powerhouse has expanded its market value to eclipse the combined size of multiple full sectors in the benchmark stock index.
Tech titan and chipmaker Nvidia (NVDA) now makes up roughly 8% of the S&P 500 total capitalization, a share near record levels, reports The Kobeissi Letter.
Its valuation exceeds five of the index’s 11 sectors, with only Information Technology, Communication Services, Financials, Health Care, Consumer Discretionary, and Industrials ranking higher.
“Nvidia’s market cap also exceeds the combined value of the Energy, Utilities, Real Estate, and Materials sectors.”
At $5.3 trillion, the market cap equals 16.3% of US GDP, highlighting rapid expansion fueled by demand for specialized chips in artificial intelligence applications.
Recent trading data places the valuation in a similar range, around $5.3 trillion to $5.4 trillion amid ongoing market gains.
“Nvidia’s rise has been historic.”
The news comes as global money creation expands at a historic pace. Data from The Kobeissi Letter shows that global broad money supply surged +$10.7 trillion year over year in June, or +7.7%, to a record $150 trillion.
“This marks the 9th consecutive YoY increase above +7.0%, the longest such streak since 2021.
The biggest increase over this period was recorded in February 2026, at +11.9%.
Since 2000, global money supply has risen +$124 trillion, a +6.9% compounded annual growth rate over this period.
Since 2020 alone, money supply has surged +$50 trillion, or +50%, equivalent to an average increase of ~$7.5 trillion per year.”
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