The American stock market continues its triumphant march, propelled by a wave of excitement surrounding artificial intelligence. Leading this surge is Nvidia, whose market capitalization has just exceeded $5 trillion, a historic record that once again redefines the balance of power between tech and crypto-assets. Meanwhile, Bitcoin slightly retreats, letting American indices surpass it for the year.
L’ascension vertigineuse de Nvidia
In just five days, Nvidia’s stock has surged by 17%, supported by a flurry of AI-related strategic agreements. The result: a valuation that now surpasses the combined sum of AMD, Arm, ASML, Broadcom, Intel, Lam Research, Micron, Qualcomm, and TSMC. An extraordinary performance, fueled by spectacular announcements, partnerships with Palantir and Samsung, a billion-dollar investment in Nokia, and a project of supercomputers in collaboration with the U.S. Department of Energy. This frenzy positions Nvidia as the beating heart of the AI boom, now weighing alone 8.3% of the S&P 500 and responsible for nearly 20% of its gains in 2025.
Microsoft and Apple closely follow, each with around $4 trillion in market capitalization, confirming the dominance of the ‘Magnificent Seven’ on global markets.
Bitcoin décroche face aux actions
In terms of performance, the balance of power shifts. After a thunderous start to the year, Bitcoin now shows +16% since January, while the S&P 500 climbs 17% and the Nasdaq soars by 24%. Gold remains the big winner of the moment, with an impressive 50% increase, reminding investors that they still retreat to tangible assets in times of monetary uncertainty.
BTC trades around $113,000, about 10% below its all-time high, falling victim to profit-taking after its recent rally. Meanwhile, institutional flows are once again focusing on tech stocks, driven by the explosion of AI and profit growth prospects.
La bataille narrative entre crypto et Big Tech
The year 2025 marks a symbolic turning point: traditional tech takes back the lead over crypto. Institutional investors, long seduced by Bitcoin as an ‘anti-system’ asset, are redirecting their capital towards tangible, productive values that are now… boosted by artificial intelligence. But the rivalry is not over. While Nvidia embodies the power of the AI revolution, Bitcoin remains the ultimate barometer of confidence in the global financial system. And in such a nervous market, a simple correction in stocks could be enough to reignite the crypto dynamic.
The balance between Wall Street and Web3 has never been more fragile, nor as fascinating to observe.
