AI helps the world's biggest tech firms smash $10 trillion market capitalization ceiling — Nvidia replaces Facebook as the new kid on the block while Microsoft displaces Apple at the helm

The world's biggest tech giants have swelled more than $1 trillion in valuation, thanks in part to investments and advancements in generative AI – collectively exceeding $10 trillion in valuation.

But it's not good news for everyone, as Meta, which has only just pivoted to AI after misfiring on its metaverse bet, is yet to hit $1 trillion – specifically, $937.85 billion at the time of writing.

The companies – including Microsoft, Apple, Google, Amazon and Nvidia – are all worth more than $1 trillion, according to the latest market capitalization figures on Google Finance, which was something incredibly rare before Apple became the first Silicon Valley giant to break this threshold in 2018.

AI boom

Apple also became the world's first $2 trillion US company, and the country's first $3 trillion company, but is now valued at $2.81 trillion – just shy of Microsoft. While it hasn't yet announced concrete AI integrations yet, Apple's long been rumored to be working on its flavor of generative AI ahead of incorporation into its products later this year.