THE S&P 500, a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States, is enjoying a strong year in 2024, driven by the outstanding performance of chipmaker Nvidia. The top video graphics card provider has significantly boosted the index, contributing 33.
THE S&P 500, a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States, is enjoying a strong year in 2024, driven by the outstanding performance of chipmaker Nvidia . The top video graphics card provider has significantly boosted the index, contributing 33.73 percent of its returns this year with its soaring stock price.
All these top five stocks drive about 60 percent of the S&P 500's returns, hinting that AI development could be the most profitable sector now and in the forthcoming years.Current standingsNvidia dominates the AI chip market, capturing between 70 percent and 95 percent market share, with its revenue tripling each quarter recently. This surge has propelled its stock by 150 percent in the first half of 2024.
Drives S&P's Strong 2024 Growth
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