At the end of 2023, the world had just six trillion-dollar companies. Now: there are TEN.
Unsurprisingly, all but one of the 10 companies in the trillion-dollar club are tech names – with the big shifts in the lineup all revolving around the AI boom.
The two newcomers sneaking into the top 10 are semiconductor chip makers Broadcom and TSMC, at 9th and 10th spot respectively.
Meanwhile, AI heavyweight Nvidia was the year’s biggest climber, leaping from sixth to third place with a staggering 170% gain since January. It smashed through $1 trillion, $2 trillion and $3 trillion valuation milestones in just over a year.
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By contrast, Saudi Aramco – the only non-tech player on the list – traded places with Nvidia, tumbling from third to sixth place as its stock dropped over 12% this year. Being the world’s largest exporter of oil, its stock generally tracks oil prices, which slid more than 5% since January on oversupply fears and slowing demand.
Meanwhile, Apple clung to its #1 spot, notching a 35% year-to-date gain (even without much going on for it).
Microsoft stood pat at #2, though delivering a slower 18% stock gain compared to the S&P 500’s 24% this year.
Meta and Tesla kept their place, both up more than 70% for the year (though Tesla racked up most of these gains in the past two months on questionable Donald Trump hype).
Not everyone survived the shuffle, though. Berkshire Hathaway and Eli Lilly fell out of the top 10 entirely in 2024, with their places snapped up by Broadcom and TSMC.
Ready for the next round?
Read more: Is Nvidia switching to the slow lane?
