The Magnificent Seven stocks had an outsized influence on the broader market in 2024, with investors piling into these high-flying artificial intelligence-influenced stocks. Their influence has swelled and these seven stocks now represent about one-third of the overall value of the broader benchmark S&P 500. That meant they had a big role in maintaining the bull market now well underway.

The S&P 500 has had another banner year in 2024, rising more than 20% for the second straight year, a feat last accomplished in the 1990s. And just like the year before, a small group of stocks accounted for an outsized share of that gain. The Magnificent Seven group of large-cap technology companies—Apple (AAPL), Nvidia (NVDA), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOG)(GOOGL), Meta (META), and Tesla (TSLA)— gained 63% in 2024, after rising more than 75% the year before. There were bumps in the road—the group had its worst day on record in July—but, for the most part, the artificial intelligence (AI) boom continued to boost the stocks of these tech giants.