Nvidia Surpasses $5.4 Trillion Market Cap, Dominates S&P 500
Nvidia's market cap has reached an all-time high, accounting for nearly 8% of the S&P 500's total value. This is a significant milestone for the AI chip manufacturer, with its market capitalization now surpassing that of five entire sectors in the index.
The company's value exceeds $5.4 trillion and continues to climb, with Nvidia CEO Jensen Huang attributing this growth to strong revenue projections. In fact, Nvidia anticipates 70% revenue growth for fiscal year 2028, outperforming analyst forecasts by a wide margin.
Adjusted earnings per share came in at $2.22 on revenue of $96.2 billion in the latest quarter, exceeding expectations. This performance has analysts optimistic about the company's future prospects, with EvercoreISI's Mark Lipacis calling Nvidia one of the most compelling risk/reward ratios in their coverage universe.