Big Tech Soars: Google Antitrust Win, Apple Boost & $10B AI Deals Drive Market Value to $21 Trillion
It’s been a blockbuster week for tech investors, with courtroom rulings and boardroom deals fueling massive gains across the industry’s biggest players.
A favorable antitrust ruling for Google sent shares of Alphabet and Apple soaring, while Broadcom rallied on news of a $10 billion AI chip contract. Meanwhile, Tesla rebounded as investors weighed in on CEO Elon Musk’s potential record-breaking pay package.
Altogether, the U.S. tech sector’s eight trillion-dollar giants added a staggering $420 billion in market value this week, lifting their combined worth to $21 trillion. These companies now make up nearly 36% of the S&P 500, a concentration rarely seen in market history.
Alphabet jumped more than 10% for the week after U.S. District Judge Amit Mehta spared the company from being forced to sell its Chrome browser, instead mandating data-sharing requirements with rivals. The ruling also benefited Apple, which can continue its lucrative deal with Google to keep its search engine as the default on iPhones. Analysts say this sets the stage for deeper AI collaborations between the two tech giants, particularly involving Google’s Gemini models.
Broadcom also stole headlines, becoming the newest member of the trillion-dollar club after a 13% surge. Analysts linked its $10 billion deal to OpenAI, adding to the company’s roster of major AI clients that already includes Google, Meta, and ByteDance. With shares up 120% over the past year, Broadcom now boasts a $1.6 trillion market cap.
On the other hand, Nvidia had a rough week, sliding over 4%, marking its fourth consecutive weekly decline—though it remains the largest company in the world at over $4 trillion in value. Microsoft also extended its pullback, despite being up 21% over the past 12 months.
Meanwhile, Tesla saw a 5% rally, driven by excitement over Musk’s proposed compensation plan—potentially worth nearly $1 trillion. The package, structured across 12 tranches, would require Tesla to nearly double its market value to $2 trillion for the first payout to kick in.
With AI, cloud, and electric vehicles continuing to dominate headlines, Wall Street’s tech megacaps are reshaping global markets, highlighting both their outsized influence and the fierce competition driving innovation.
