"Over the past several quarters, it has felt like people basically care about inflation numbers, job numbers, and Nvidia numbers. Nvidia overtaking Apple in market cap not only conveys that it is the biggest beneficiary of the AI infrastructure cycle, but it suggests people expect the AI boom will continue."
"Currently, Nvidia accounts for 7% of the S&P 500's weight and is responsible for around a quarter of its 21% gain this year."
"This is happening for the second time, with the chipmaker previously becoming the largest company in June this year, although it held this record for only one day."
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