Technology companies have dominated U.S. stock markets since the start of 2024, with NVidia shares rising 140 percent this year alone, whose chips are the gold standard in artificial intelligence applications, accounting for about a quarter of the S&P 500's 17 percent gain.
Microsoft, Apple, and NVidia collectively share about 20 percent in the S&P 500, although shares of the top two companies have gained significantly less this year than NVidia.
Despite NVIDIA's dominance, tech companies overall, account for more than 31 percent of the S&P 500's relative weight and have led many billionaires to fantastic profits since the beginning of the year.
According to the Bloomberg Billionaires Index, Mark Zuckerberg of Meta Platforms has collected the most of these gains, as his wealth rose by more than $ 72 billion to reach $ 200 billion, the highest level reached by the Facebook founder since joining the list of the 500 richest people in the world.
Source (Al-Arabiya.net Website, Edited)
