Nvidia's market capitalization has climbed to $5.3 trillion, a level that now exceeds five of the S&P 500's eleven sectors and equals 16.3% of US GDP, according to Kobeissi Letter data. The milestone lands as global money supply also hits a record high.
Nvidia's market capitalization has climbed to $5.3 trillion. That level now equals 16.3% of US GDP, with the chipmaker's valuation large enough to eclipse several full S&P 500 sectors at once.
Nvidia's weight in the S&P 500
Nvidia now makes up roughly 8% of the S&P 500's total market capitalization, a share near record levels, based on figures from The Kobeissi Letter. Its rising market capitalization now exceeds five of the index's eleven sectors, with only Information Technology, Communication Services, Financials, Health Care, Consumer Discretionary and Industrials ranking higher.
Specifically, Nvidia's valuation exceeds the combined size of the Energy, Utilities, Real Estate and Materials sectors. According to The Kobeissi Letter: "Nvidia's rise has been historic." Recent trading data places the company's valuation in a similar range, around $5.3 trillion to $5.4 trillion amid ongoing market gains.
Global money supply sets a record
The milestone comes as global money creation expands at a historic pace. Kobeissi Letter data show that global broad money supply surged $10.7 trillion year over year in June, or 7.7%, to a record $150 trillion. That marks the ninth consecutive year-over-year increase above 7%, the longest such streak since 2021.
The biggest increase over this period came in February 2026, at 11.9%. Since 2020 alone, money supply has surged $50 trillion, or 50%, equivalent to an average increase of about $7.5 trillion a year.
Source: The Daily Hodl
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