Bubble
Trouble!
In August of this year, Nvidia — a single American chipmaker — reached a market capitalization of roughly $4.4 trillion.
That’s more than the entire GDP of Japan, larger than India’s economy, and greater than the total market value of every company listed on the Swiss Stock Exchange combined.
To put it another way, Nvidia — a company that makes computer chips — is worth more than all U.S. farmland and represents nearly one-fifth of the value of all the gold ever mined.
Nvidia doesn’t feed people. It doesn’t build homes. It doesn’t grow food or pave roads. Yes, it creates powerful, useful technology — but not something that justifies a valuation rivaling that of entire nations. This is the new absurdity of modern finance: stock valuations soaring far beyond any connection to real economic activity.
And Nvidia isn’t alone.
The so-called Magnificent Seven — Apple, Microsoft, Amazon, Alphabet, Meta, Tesla, and Nvidia — together are now worth more than $19 trillion.
That’s more than the combined GDPs of Germany, Japan, and India.
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