The boom in artificial intelligence (AI) is driving up the value of the world’s 100 most valuable publicly traded companies. In the first six months of the year, their combined value rose by 17% to $42.3 trillion, a record high according to an analysis by audit and consulting firm EY, as reported by the German Press Agency. The data was collected as of June 28.
At the top of the rankings is software company Microsoft, with a value of $3.32 trillion. For comparison, Microsoft’s value is 77% higher than that of all DAX-listed companies combined. By the end of June, the 40 largest publicly traded companies in Germany had a total market capitalization of $1.87 trillion.
Apple holds the second position in the rankings, followed by chip manufacturer Nvidia. Nvidia’s market value increased by almost 150% in the first half of the year, from $1.22 trillion at the end of 2023 to $3.04 trillion. Other semiconductor producers such as TSMC (ranked 10th) and Broadcom (ranked 11th) also saw significant gains. By the end of June, a total of 26 technology companies were among the top 100.
Henrik Ahlers, Chairman of the EY Management Board, stated: “Artificial intelligence is a megatrend that is rapidly reshaping the economic landscape, capturing the imagination of investors, and driving up stock prices.” He added that AI technologies would lead to significant changes across all industries and in private life. “This will be associated with enormous value creation.”
However, it is primarily US companies that are benefiting from the enthusiasm of many investors for AI. Only a few European companies currently play a significant role in this sector. These include Dutch chip equipment supplier ASML, German software company SAP, and British chip designer Arm. They have all made significant progress, achieving a combined market value of $812 billion. In contrast, they are up against 18 North American tech giants, which together are worth $16.5 trillion.
Ahlers commented: “Europe is currently playing in the second division when it comes to AI and has significant catching up to do.” He noted that the development is happening so rapidly that there is a risk of being left behind. Although there are some promising AI startups in Europe, they are not publicly traded and their revenues are far behind those of the dominant US companies.
