Finance
Nvidia Is the Latest Shiny Object to Spur Stocks to New Heights
Everyone’s favorite AI play has accounted for a third of the S&P’s gain so far this year.
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It’s the story of the acorn and the mighty oak.
Way back in 2001, as the tech industry was struggling through the aftershocks of the dot-com bust, the S&P 500 had a hole to fill. Scandal-plagued Enron Corp. was about to be kicked out of the broad equities benchmark, and the question was, who should replace it? Standard & Poor’s landed on a little-known chipmaker called Nvidia Corp.