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Nvidia (NASDAQ: NVDA) currently boasts a market capitalization of approximately $4.3 trillion as of September 2023, having grown significantly since its market cap of over $340 billion in September 2020. Despite its substantial growth driven by the demand for AI technology, Nvidia is not the top performer in the S&P 500 over the past five years; that title belongs to Super Micro Computer (NASDAQ: SMCI), which has seen its stock price increase by more than 1,400% during the same period.
As of September 1, 2023, a $10,000 investment in Supermicro would be worth over $153,000, compared to $126,000 for the same investment in Nvidia. Supermicro’s rapid growth has transformed it from a small-cap company with a valuation of $1.4 billion in 2020 to a mid-cap firm in the S&P 400 in December 2022 and later a large-cap in the S&P 500 in March 2024. Its valuation today stands at approximately $27 billion.
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