Technology companies have overtaken energy and industrial firms as the world’s most valuable companies over the past two decades. Nvidia, Microsoft, and Apple lead market capitalization rankings, with Nvidia at about $4.3 trillion. Alphabet holds a $2.4 trillion market cap and leads search and cloud markets while expanding generative AI tools within Google Cloud. Alphabet has long used AI algorithms to improve search results. Recent legal cases allege monopoly power in digital advertising and online search, and court decisions are pending. Legal outcomes could create strategic or valuation opportunities for investors.
It was just 20 years ago that energy and industrial stalwarts ExxonMobil and General Electric were the world's most valuable companies when measured by market cap, with values of $392 billion and $375 billion, respectively. In the two decades since, there's been a paradigm shift, and technology leads the field. The companies topping the list need little introduction. AI chipmaker Nvidia heads the pack at $4.3 trillion as of this writing, hitting record highs multiple times this year.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. With a market cap of $2.4 trillion, it seems inevitable that search and cloud titan Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) is on the fast track for membership in the $3 trillion club. A combination of market domination, speedy growth, and the wildcard of artificial intelligence (AI) should provide the tailwinds the company needs to join this exclusive society.
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