Five AI stocks dominate S&P 500, representing 27.1% of index, influencing overall performance

From Nasdaq: 2024-09-24 05:15:00

The S&P 500 is the most diversified US stock market index, with 500 companies from 11 sectors. However, the top 5 companies represent 27.1% of the index’s value, with a combined market cap of $13.4 trillion. These companies include Apple, Microsoft, Nvidia, Alphabet, and Amazon, all heavily invested in AI technology, influencing index performance. Apple’s AI software, Microsoft’s Copilot virtual assistant, Nvidia’s powerful GPUs, Amazon’s AWS cloud computing, and Alphabet’s Gemini models and AI overhaul are key factors contributing to their success. Amazon plans to spend $60 billion on AI this year, potentially making it a strong long-term investment. Overall, these top 5 companies are shaping the future of AI technology and could continue to drive the S&P 500’s performance.



Read more at Nasdaq: These 5 Artificial Intelligence (AI) Stocks Make Up 27.1% of the Entire S&P 500 Index