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Nvidia has grown at an eye-popping pace, to the point where it carries a valuation equal to that of China's stock market as a whole.
In a new research note from Bank of America, chief investment strategist Michael Harnett noted that Nvidia's $600 billion surge in value over the past two months has pushed its market cap to $1.7 trillion, on par with all Chinese-listed companies on the Hong Kong Stock Exchange combined.
The chipmaker behemoth's market cap has nearly quadrupled since the start of last year. Its stock soared 239% in 2023, and is up 41% this year alone, through Thursday. Only four US public companies are worth more.
Meanwhile, China's economic malaise has sent stocks tumbling lower. Lackluster economic growth and a prolonged real-estate crash have weighed on the market. The country has also been dealing with deflation. The Hang Seng index, a benchmark for Hong Kong-listed Chinese stocks, has dropped 26% over the past year and 8% year-to-date.
markets.businessinsider.com
In a new research note from Bank of America, chief investment strategist Michael Harnett noted that Nvidia's $600 billion surge in value over the past two months has pushed its market cap to $1.7 trillion, on par with all Chinese-listed companies on the Hong Kong Stock Exchange combined.
The chipmaker behemoth's market cap has nearly quadrupled since the start of last year. Its stock soared 239% in 2023, and is up 41% this year alone, through Thursday. Only four US public companies are worth more.
Meanwhile, China's economic malaise has sent stocks tumbling lower. Lackluster economic growth and a prolonged real-estate crash have weighed on the market. The country has also been dealing with deflation. The Hang Seng index, a benchmark for Hong Kong-listed Chinese stocks, has dropped 26% over the past year and 8% year-to-date.
Nvidia is now worth as much as the whole Chinese stock market
Nvidia's market cap has swelled to $1.7 trillion, the same as every stock in China's market combined.
markets.businessinsider.com
