Nvidia Accounted for 32% of the S&P 500's Five-Month Return, 5x more than Microsoft and Meta

June 14, 8:11 am

After a brief setback in April, the stock market returned to form last month, with the S&P 500 index returning almost 5% in May and an overall 11.3% in the first five months of the year. Like last year, the AI hype fueled the index's growth, with Nvidia as the single largest contributor.

According to data presented by AltIndex.com, Nvidia contributed 32.3% to the S&P 500's overall return in five months, or five times more than AI giants Microsoft and Meta.

Nvidia Added 3.65% to the S&P 500's Total Five-Month Return

US chipmaker Nvidia is having another fantastic year. After posting better-than-expected results for the last two quarters, the AI giant's stock price skyrocketed, adding almost half a trillion dollars to its stock value.

In February, after posting Q4 2024 results, Nvidia's stock value soared by $276 billion in a single day, the highest increase the company has ever seen. The same scenario happened three months later. On May 22, Nvidia reported impressive Q1 FY 2025 results that showed a 262% jump in revenue and a whopping 645% net income growth, causing its stock value to skyrocket. A day after posting its latest earnings report, Nvidia's stock value jumped by $217 billion and has continued rising ever since.

The company's 2024 stock price rally has brought investors 121% returns in five months, cementing its position as the best performer on the S&P 500 list. Moreover, that means Nvidia accounted for 32% of the S&P 500's total five-month return.

According to analysts at S&P Dow Jones Indices, the S&P 500 Index returned 11.3% as of May 31. The AI giant Nvidia contributed 3.65% to the index's total return, putting it miles ahead of Microsoft, Meta, and Amazon, which contributed 0.78%, 0.66%, and 0.58%, respectively. Statistics show Microsoft stocks brought 11.3% gains to investors in the five months of the year. Meta and Amazon followed, with 40.4% and 19.7% gains, respectively.

Tesla Dragged the S&P 500 Index Down by 0.52%

The world's most valuable car producer and one of the biggest AI companies, Tesla, was at the other end of the scale. Unlike other AI giants, whose stock prices skyrocketed in the past months, Elon Musk's company struggled with missed sales expectations, growing competition from China, and damaged reputation, which caused its stock price to drop by 27% in five months. Furthermore, statistics show Tesla dragged down the S&P 500 Index by 0.52%, remaining the worst-performing stock on this list.

Although way above Tesla, Intel, Adobe, and Boeing were also among the biggest negative contributors to the S&P 500's five-month performance, dragging the index down by 1.8%, 1.4%, and 1.1%, respectively.

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