A surprisingly resilient economy and profit-filled AI boom are driving the United States’ big tech giants toward a milestone that would have seemed impossible just a few decades ago. Nvidia, Microsoft, Apple have all surpassed the $3 trillion market capitalization mark, and Google and Amazon are following close behind in the $2 trillion range.
Combined, these five tech giants alone are now worth more than $14.5 trillion and make up roughly 32% of the S&P 500. For reference, in 2002, after the dot-com bubble burst, the total market capitalization of every U.S. stock was $11.1 trillion, according to Siblis Research data. Big tech’s performance has been particularly impressive this year, with Nvidia, for example, surging from a $2 trillion market cap to a $3 trillion market cap in under 100 days.
