Nvidia Has ‘Central Bank-Like Power’ In Modern Markets

Earlier this month, I described the size (and, by extension, the index influence) of Nvidia's daily market-cap swings as "farce." It was an apt description. By now, a history of the largest single-session value creation bonanzas and biggest one-day wipeouts is just the record of Nvidia ca. 2023/2024. At various intervals since May of 2023 -- when the company changed the world with what it's probably fair to call the most famous beat and raise in history -- market observers have joked that the