We have all grown used to Big Tech breaking records, and we all – almost – became numb to hearing valuations in the billions of dollars. Yet one milestone still deserves a pause.
Nvidia’s valuation recently exceeded $5 trillion, making it the first company in history to do so. Microsoft and Apple hover around $4 trillion each. Together, the top three are worth over $10 trillion – more than the entire economies of Japan and Germany combined (about $8.5 trillion in nominal gross domestic product). If these companies were a country, they would rank third globally, behind only the US and China. That’s not just a headline – it’s a historic shift in how value and power are created.
At this valuation, these companies move beyond being mere corporations, and become sovereign-scale entities. Market value is not GDP, but it signals power, and influence is now migrating from national capitals to corporate headquarters. The larger-than-life executives shape global norms on privacy, security and even diplomacy – often faster than governments can legislate. What used to be a technological “arms race” between nations has been extended to a capability race between states and businesses. Whoever controls compute, data and talent pipelines defines the next era of competitiveness.
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