Five years ago, such a concentration of value would have been difficult to envision. Today, it reflects a deeper transformation in how value is created, captured and sustained in the global economy and equity market. At the centre of this lies the transformation of AI.
The ongoing artificial intelligence (AI) investment cycle has propelled a small group of companies into unprecedented territory, reshaping both market structure and the distribution of economic power.
The emergence of approximately 15 companies with market capitalisations exceeding US$1 trillion ($1.29 trillion) — most of them directly or indirectly exposed to AI — marks a structural shift rather than a temporary phenomenon.
