The Year of Nvidia, AI Stocks and Lofty Valuations
- Nasdaq 100 index is set for its best year in over a decade
- Big Seven stocks account for more of the S&P 500 than ever
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The world’s most valuable technology firms have powered the Nasdaq 100 index toward its best year in more than a decade, as investor appetite for artificial intelligence overwhelmed concerns about the impact of higher interest rates in 2023.
And there was no other company that embodied the excitement about AI and actually delivered on that promise like Nvidia Corp. Its 230% advance has made it the best performer by far in the both the Nasdaq 100 and the S&P 500 Index.