According to CoinMeta, as reported by Coinpaper, the presence of AI stocks in the S&P 500 has exceeded investors' expectations. Relevant giants have occupied many of the largest positions in this index, increasing its sensitivity to NVIDIA and large technology companies. As of August 31, the top 10 companies in the S&P 500 accounted for 37.8% of the market value, with NVIDIA alone accounting for 8.1%. This indicates that many of the largest companies in the S&P 500 are directly related to AI. NVIDIA sells AI chips, while Microsoft, Amazon, Google, and Meta have invested heavily in AI infrastructure. The S&P 500 is weighted by market value, which means that the largest companies have the greatest impact on the index's performance. When NVIDIA or Microsoft experiences a significant rise, the index may move, even if smaller stocks remain flat or decline. The concentration in AI can also have the opposite effect; if expectations for AI spending weaken, several major holdings in the S&P 500 may fall simultaneously.