The total market value of the Magnificent Seven tech giants soared past $22.2 trillion on Wednesday, powered by a surge in Nvidia Corp. (NASDAQ:NVDA), which crossed the $5 trillion valuation mark for the first time ever—now eclipsing the entire economy of Japan.
Shares of the AI chip leader jumped 4.4% in early trading, building on Tuesday's 5% rally, after CEO Jensen Huang revealed the company has booked $500 billion in AI datacenter orders for 2026, and announced plans to build seven AI supercomputers for the U.S. Department of Energy.
Nvidia has now gained more than 55% year-to-date, outperforming all other names in the Magnificent Seven group and continuing a streak that saw it rise 239% in 2023 and 171% in 2024.
At $5 trillion, Nvidia is now bigger than Japan's GDP, which sits at $4.4 trillion—the world’s third–largest, according to the latest IMF data.
The Magnificent Seven—Apple Inc. (NASDAQ:AAPL), Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOGL), Meta Platforms Inc. (NASDAQ:META), Microsoft Corp. (NASDAQ:MSFT), Nvidia Corp. and Tesla Inc. (NASDAQ:TSLA)—now carry a combined value higher than China's entire economy, which stands at approximately $19.5 trillion, trailing the group by over 15%.
The top two names, Nvidia and Microsoft, now command over $9 trillion together, exceeding the combined GDP of Germany and the United Kingdom – Europe’s largest economies, which stands at $8.65 trillion.
Apple also joined the $4 trillion club this week, becoming the third company in history to do so after Microsoft and Nvidia.
In terms of market concentration, Magnificent Seven stocks now represent over 37% of the S&P 500.
| Name | Market Cap | Total Return (YTD) |
| NVIDIA Corporation | $ 5,069.66B | 55.39% |
| Microsoft Corporation | $ 4,036.35B | 29.54% |
| Apple Inc. | $ 3,994.53B | 7.87% |
| Alphabet Inc. | $ 3,252.26B | 41.94% |
| Amazon.com, Inc. | $ 2,466.078 | 5.40% |
| Meta Platforms, Inc. | $ 1,890.90B | 28.86% |
| Tesla, Inc. | $ 1,537.51B | 14.47% |
| Combined Market Cap | $ 22,247.28B | |
| Average YTD Return | 26.42% |
Nvidia’s AI Boom Fuels Mag 7 Surge
The Roundhill Magnificent Seven ETF (NYSE:MAGS), which tracks these seven stocks, is up 27% year-to-date, handily beating the Vanguard S&P 500 ETF (NYSE:VOO)'s 18% and the Invesco QQQ Trust (NASDAQ:QQQ)’s 24% climb.
"AI euphoria is once again causing the Magnificent Seven to outperform the Impressive-493," Ed Yardeni said on Wednesday.
Goldman Sachs analyst James Schneider said Nvidia now has visibility into $500 billion in cumulative Datacenter revenue for 2025–26, a figure that is 12% above consensus estimates from Visible Alpha.
Investors now await Alphabet, Meta and Microsoft earnings after Wednesday’s market close. Apple and Amazon report on Thursday.
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