Nvidia Market Cap Hits $5.26 Trillion as S&P 500 Closes at 7,173

On Monday after the close, Nvidia’s stock reached $216.61, pushing the company’s market capitalization to $5.26 trillion. The S&P 500 closed at a record 7,173.91 and touched intraday highs during the session.

The Nasdaq Composite rose 0.20% to 24,887.10. The Dow Jones Industrial Average fell 62.92 points to 49,167.79. Trading remained narrow as crude oil prices climbed amid stalled U.S.-Iran talks and heightened tensions in the Strait of Hormuz.

West Texas Intermediate crude rose 2.09% to $96.37 per barrel and Brent crude gained 2.75% to $108.23 per barrel.

The Philadelphia Semiconductor Index has advanced more than 36% in April and is trading nearly 50% above its 200-day moving average. Nvidia gained more than 20% in the same period but lagged the index; year-to-date the stock is up about 15% while the semiconductor index has climbed roughly 46%. Nvidia represents 10.82% of the Philadelphia index.

Goldman Sachs traders noted the gap between Nvidia and the broader chip trade has not been seen since the dotcom era. Some analysts have suggested share buybacks and dividends as ways the company could narrow that gap. JPMorgan analyst Harlan Sur and his team wrote, “We expect AI-related demand to drive a multi-year runway of growth for NVDA’s datacenter GPU business.”

The iShares Semiconductor ETF fell about 2% on Monday, ending an 18-session winning streak. Since the market low tied to recent Middle East tensions on March 30, the ETF had surged nearly 50% by Friday’s close and remained up almost 46% from that low as of Monday.

On social media, Sam Bankman-Fried posted that the S&P 500 was up 19.6% since President Trump’s second inauguration compared with an 8.6% gain at the same point in President Biden’s term. An account named Geiger Capital replied, and Bankman-Fried posted a brief response.