Nvidia Drives 20% of S&P 500's 9% Gain as Futures Top 7,540
Updated
Updated · 24/7 Wall St. · May 26
Nvidia Drives 20% of S&P 500's 9% Gain as Futures Top 7,540
6 articles · Updated · 24/7 Wall St. · May 26
S&P 500 futures climbed above 7,540 for the first time, but roughly one-fifth of the index’s 9% gain this year has come from Nvidia alone.
Nvidia’s $5.2 trillion market value gives its 15%-plus rise far more influence than smaller stocks, because the S&P 500 is weighted by market capitalization.
Market breadth looks weak beneath the records: only 57% of the S&P 500’s 503 components are up in 2026, and 61% are underperforming the index.
The split is stark across the index, with the 10 largest S&P stocks up 7.8% on average while the 10 smallest are down 23.1%.
That concentration echoes the Magnificent Seven-led rallies since 2023 and leaves the broader market more exposed if Nvidia or other mega-cap tech names stumble.
If the S&P 500's health relies on one company, is the broader U.S. economy secretly in trouble?
With Nvidia fueling the market, are we in a tech revolution or a bubble poised to burst?
As AI's energy thirst grows, is a nationwide power crisis the price for this technological leap?
Nvidia Drives Over 15% of S&P 500 Gains: AI Boom, Market Risks, and the Future of Tech Investing (2025–2026)
Overview
In 2026, Nvidia stands out as a pivotal force driving the S&P 500’s gains, reflecting the ongoing dominance of artificial intelligence in the market. The company’s robust performance highlights its critical role in the technology sector, especially as seen in investment vehicles like the Fidelity Series Growth Company Fund, where Nvidia emerged as the single largest contributor. Specifically, Nvidia stock added 7.9 points to the fund’s 26.4% year-to-date return, making it the primary driver of its performance. This underscores how Nvidia’s leadership in AI continues to shape both fund returns and broader market dynamics.