The company Nvidia overtakes Apple as the most expensive company
The boom in artificial intelligence is boosting US tech companies and making them the most valuable listed companies in the world. At the end of last year, chip manufacturer Nvidia had a market capitalization of over 4.5 trillion dollars.
07.01.2026, 06:30
SDA
This put Nvidia ahead of the iPhone company and long-time leader Apple, which was valued at around four trillion dollars. This is shown in a study by the consulting firm EY, which was made available to Deutsche Presse-Agentur.
Chip systems from Nvidia have become a key technology for software with AI, and the hyped company is regarded as an indicator of the state of the AI sector.
The following places in the ranking are also occupied by US tech giants: Google parent company Alphabet takes third place with a stock market value of just under 3.8 trillion dollars, ahead of Microsoft and Amazon.
USA unchallenged
"The year 2025 was dominated by artificial intelligence on the world's stock markets," says Henrik Ahlers, Chairman of the EY Management Board. "The euphoria surrounding new AI applications and business models has led to strong share price gains worldwide. However, the profiteers are mainly based in the USA and Asia."
US companies in particular continue to dominate the stock markets. According to EY, 60 of the 100 most valuable companies in the world are based in the United States. There are eight American companies in the top 10: Only the oil company Saudi Aramco in 8th place and the Taiwanese chip manufacturer TSMC in 10th place break the dominance.
Switzerland - like France - also has three companies in the top 100: Roche, Novartis and Nestlé. Another DAX company, the Franco-German aircraft manufacturer Airbus, is represented in 89th place.
"Europe only plays a minor role in the AI race"
Europe is only playing a minor role in the AI race on the stock markets, explains EY manager Ahlers. Once again, there is a risk of losing touch with a key technology. The dominance of US tech companies is also a geopolitical concern, as the AI boom is leading to new dependencies.
The stock market ranking also reflects the upheaval of traditional industries in Europe. Before the financial crisis in 2007, 46 of the 100 most valuable companies came from Europe; today there are only 17.
Tesla far ahead of Mercedes, BMW and VW
The crisis in the automotive industry is emblematic. According to the study, all German car manufacturers were still among the 300 most expensive companies in the world at the end of 2023, but now none of them are represented.
At the end of the year, the most valuable car manufacturer in the world was Tesla in ninth place with a market capitalization of 1.5 trillion dollars. Mercedes-Benz, BMW and VW have a combined value of 197 billion dollars and are ranked 327th, 329th and 364th respectively.
