Nvidia’s market cap hits $5.4T, dwarfing the entire Russell 2000

Nvidia is now worth more than every small company in America, combined, and then some. As of late September 2026, the chipmaker’s market capitalization settled at approximately $5.4 trillion, outpacing the collective value of the Russell 2000 small-cap index by nearly $2 trillion. Profit that rewrites the record books Over the past twelve months, Nvidia generated roughly $193 billion in net income. The Russell 2000’s approximately 2,000 member companies, in aggregate, lost $13 billion over the same period. Nvidia’s fiscal 2026 revenue hit $215.9 billion, a 65% increase year-over-year. Its data-center business alone generated $89 billion in a single quarter, a number that would rank as a sizeable annual revenue figure for most Fortune 500 companies. Nvidia crossed the $5 trillion threshold for the first time in October 2025, joining a club that, until recently, had no members at all. It has held that altitude and climbed further since. What the Russell 2000 gap actually tells us The Russell 2000 is the standard benchmark for US small-cap stocks. It covers companies that are large enough to be publicly traded but small enough to be mostly ignored by institutional investors chasing me...