Wall Street’s love affair with mega-cap tech shows no signs of cooling. The S&P 500 just wrapped up its sixth straight month of gains, climbing more than 40% since the post-tariff lows in April. But once again, it’s the so-called Magnificent Seven doing the heavy lifting.

Nvidia, Microsoft, Apple, Amazon, Alphabet, Meta Platforms and Tesla now boast a combined market value north of $22 trillion. Nvidia alone has crossed an unprecedented $5 trillion valuation, cementing its role as the world’s most valuable company. The chipmaker’s CEO Jensen Huang stunned investors at Washington’s GTC event on Tuesday, Oct. 28, by unveiling $500 billion in projected AI data center revenue over the next two years.

See Full Page