Nvidia represents 5.04 per cent of the key equity index, surpassing Japan: Report
&imwidth=800&imheight=600&format=webp&quality=medium "Nvidia represents 5.04 per cent of the key equity index, surpassing Japan: Report")
An Nvidia office Photograph: (AFP file)
Nvidia shares weight in MSCI All Country World Index: The company's contribution to the index is larger than the combined contribution of both France and Germany.
Global chip giantNvidia has hit a major milestone. According to the MSCI All Country World Index, the US-based company has overtaken Japan, one of the world's largest economies in the world, as far as market weight is concerned. According to The Kobeissi Letter, Nvidia now represents 5.04 per cent of the MSCI All Country World Index. The index captures 85 per cent of global equity markets, including large and mid-cap stocks.
The company's weight has now surpassedJapan's share, which is the world's third-largest stock market. Japan's share weight is 4.78 per cent. China, the UK, and Canada account for 3.33 per cent, 3.23 per cent, and 2.92 per cent.
The company's contribution to the index is larger than the combined contribution of both France and Germany.
The company used to weigh 3 per cent on the index in 2023. However, with the advent of artificial intelligence and NVIDIA's promise of providing chips to spearhead the AI revolution, the company's weight increased to 5 per cent.
Why has Nvidia become a leading player
Nvidia is the world leader in developing high-performance chips that power artificial intelligence adoption.
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The company has been posting record revenues from AI infrastructure.
Nvidia used to make graphics cards that drove graphics-intensivetasks, including games, on computers and laptops. These are processors that are now key to building the technology behind ChatGPT.
Nvidia designs these chips and also offers an entire infrastructure capable of making them work together.
Nvidia's market share in this key sector is 80 per cent. America's AMD is the distant second competitor.
AMD makes CPUs for personal and business computers.
Several cloud provider companies have been working on their own chips to reduce dependence on Nvidia, including Google and Amazon.
In China, Huawei ranks among Nvidia's most credible competitors.
However, Nvidia continues to remain strong and underpins the vast majority of AI applications today.