Nvidia's market cap nearly $100B higher than energy sector
Shares of Nvidia (NVDA) continue to rise as the company reaches a new milestone of having a $100 billion higher market cap than the entire energy sector. The chipmaker is rapidly approaching a $2 trillion market cap, after breaking the $1 trillion market cap just last year.
Yahoo Finance Executive Editor Brian Sozzi joins the Live show to discuss Nvidia and its latest achievements.
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Editor's note: This article was written by Nicholas Jacobino
Video Transcript
BRAD SMITH: Soz, you're watching one big milestone, a stock hitting an interesting one this morning.
BRIAN SOZZI: Yeah, you need stats? I got them for you. Or in this case, Charlie Bilello over at Creative Planning. Really fun fact that I came across on my Twitter/X feed. NVIDIA's market cap is now over $100 billion higher than all of the companies in the S&P 500 energy sector.
So just doing some quick math, the market caps for Exxon, Chevron, and Conoco-- really, the three biggest oil companies by market cap-- about $825 billion. Guys, NVIDIA right now, over $1.7 trillion market cap. Now it was just early last year, the company crossed the $1 trillion market cap for the first time. It's just-- it's a mind blowing story.
BRAD SMITH: I mean, this might be the fastest that we see a company get to $2 trillion after we've seen them finally get to $1 trillion. And ultimately, they still hold the title for that as well.
BRIAN SOZZI: I mean, we're supposed to be skeptical in this gig, but I mean, NVIDIA is selling a lot of chips that people need for AI. I mean, what else do you need to know about the story?
BRAD SMITH: Absolutely. All right, it's already struck a lot of key price targets out there on the Street. We'll see where investors and analysts keep nudging that higher.
