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Nvidia Tops Global Market Value, Overtaking Apple as AI Trade Reshapes Rankings

AI-driven demand for chips has concentrated market power in a few U.S. tech giants.

Overview

  • LSEG and Reuters data show Nvidia valued near $4.63 trillion as of December 29, putting it ahead of Apple at about $4.04 trillion.
  • Alphabet moved to third place ahead of Microsoft, Broadcom climbed to seventh, and TSMC entered the top ten as the only new member and the only non‑U.S. firm there besides Saudi Aramco.
  • Handelsblatt’s analysis reports that 61 U.S. companies make up roughly 76% of the market value of the global top 100, with the seven largest U.S. tech firms accounting for about 40%.
  • The Big Seven generated around €550 billion in net profits in 2025, representing roughly 30% of the earnings of the world’s top 100 companies.
  • Europe trails the leaders with ASML ranked about 24th and SAP around 44th, while Palantir jumped from 79th to 22nd; some reports also note Nvidia briefly topped $5 trillion in October, underscoring snapshot volatility.