Chen Wen Hui: NVIDIA's $5 Trillion Market Cap Nears Japan's GDP, Truly "Wealth Rivaling a Major Nation"

Deep News
Nov 06, 2025

The 2025 Sustainable Global Leaders Conference Jiangsu Session and the Second Guolian Investor Summit were held in Wuxi on November 6, 2025, under the theme "Attracting Global Capital to Empower Modern Industries." Chen Wen Hui, former Vice Chairman of the National Council for Social Security Fund, emphasized the importance of fostering emerging pillar industries and strategically positioning future industries. "Amid the accelerating wave of technological revolution, the strategic significance of new quality productivity is becoming increasingly prominent," he noted.

Chen illustrated his point by tracing the evolution of the top 10 U.S. companies by market capitalization over the past century. In 1917, all top companies were resource-based industries like rubber, steel, food, oil, and chemicals. By 1967, the landscape began shifting with the inclusion of technology and financial firms. By 2017, technology companies dominated the list.

As of October 30, nine of the top 10 companies by market cap were tech firms, with only Berkshire Hathaway breaking the trend. This underscores the critical role of technology in shaping industries. Chen specifically highlighted NVIDIA, whose market capitalization reached $5.01 trillion on October 29.

"If compared to GDP, the U.S. ranks first, China second, and Japan third with $5.1 trillion. NVIDIA's market cap is nearly equivalent to Japan's GDP, far surpassing Germany's GDP, which ranks fourth. This truly exemplifies 'wealth rivaling a major nation,' showcasing the immense importance of the tech industry," he remarked.

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