Nvidia tops the stock market values of Germany, France and the UK

Nvidia ‘s furious rally to become the king of the megacap stocks has also put it above the entire stock market value of some of the world’s largest economies. On Tuesday, Nvidia surpassed $3.3 trillion in market capitalization, moving it ahead of Microsoft as the biggest stock in the U.S. But its market cap had already raced ahead of the cumulative value for entire stock markets in Germany, France and the United Kingdom, measured individually and in U.S. dollars. This was pointed out by Deutsche Bank in its “chart of the day.” Only India, Japan, China and the U.S. have stock markets bigger than Nvidia alone, according to Deutsche Bank. Nvidia has become the main way for investors to bet on the rise of artificial intelligence . The large language models that have rolled out over the past year, including from OpenAI, rely on high-end semiconductors to operate efficiently. Nvidia is considered to be well ahead of its peers in this chip race. And while semiconductors have traditionally been a cyclical business, the potential for a long period of AI investment across the business world has Wall Street analysts projecting continued growth for Nvidia for many years. The excitement shows no signs of abating. Nvidia added a trillion dollars in market cap in just 23 trading days since May 20 — the fastest on record, according to Deutsche Bank. For context, Warren Buffett’s Berkshire Hathaway is only at roughly $900 billion total after 135 years. The rally has also fueled concerns about the concentration of the U.S. stock market in just a few technology names. Nvidia, Apple and Microsoft alone are on the verge of being worth $10 trillion combined, which was the value of the entire S & P 500 as recently as 2010, according to Deutsche Bank.