AI boom shapes changes in the ranking of the most valuable companies
US tech giant Microsoft topped the ranking by EY, pushing Apple to second place. Microsoft was worth 3.32 trillion Dollars, 77% more than all DAX companies combined. Nvidia, the chipmaker, came in third place and saw its enterprise value increase by 148% in the first half, reaching 3.04 trillion Dollars. At the end of the previous year, the chipmaker was on place six, and a year before that on rank 17.
US companies profited the most from the AI boom. According to EY, only a few European companies play a "significant role" in the ranking. Besides the German software company SAP, the Dutch chipmaker ASML and the British chip designer Arm are among them, with a combined market capitalization of 812 billion Dollars. These three European companies with a market capitalization of 812 billion Dollars are outperformed by 18 North American technology companies in the Top-100-Ranking, which together are worth 16.5 trillion Dollars.
"Europe is currently playing in the second league when it comes to AI and has a significant catch-up need," explained Henrik Ahlers, Chairman of the Board of Management at EY. However, development is progressing so rapidly that there is a risk that Europe could become completely dependent on others.
SAP improved its ranking from 62nd place at the beginning of the year to 47th place mid-year. According to EY, the company from Walldorf has a market capitalization of 235 billion Dollars. Siemens, on the other hand, lost seven places and was valued at 146 billion Dollars, ranking 95th. Of the 100 most valuable companies, 19 have their headquarters in Europe. The most valuable company was the Danish pharmaceutical company Novo Nordisk, ranking 12th.
Overall, 60 of the 100 most valuable companies were from the US. The market capitalization of all companies in the ranking increased by 17% in the first half and reached a new record high of 42.3 trillion Dollars. The only companies in the Top 10 that were not from the US were the Saudi Arabian oil company Aramco and the Taiwanese semiconductor manufacturer TSMC.
- Nvidia, being a significant player in the tech industry, is based in the USA, just like the top-ranked company, Microsoft.
- The AI boom has significantly benefited companies like Nvidia, contributing to its impressive enterprise value increase.
- SAP, a European software company, has managed to improve its ranking in the EY Top-100, moving from 62nd to 47th place.
- Despite the success of SAP and a few other European companies in the AI sector, the USA continues to dominate the Top-100-Ranking, with 60 companies from the USA.
- Microsoft, Nvidia, and other US tech giants, such as Apple and Google, have outperformed European companies in terms of market capitalization, including SAP and the German conglomerate Siemens.
- In the midst of the AI boom, EY Chair Henrik Ahlers highlighted that Europe is currently lagging behind and needs to significantly catch up to maintain its technological independence.
- The chipmaker Nvidia, despite being from the USA, is closely watched in the tech scene, especially in countries like Germany, where leaders are anticipating the impacts of the AI boom on the DAX index.
