Nvidia Overtakes Apple as World's Most Valuable Company Amid AI Boom, German Firms See Market Slips

Nvidia has surged past Apple to become the world's most valuable company, driven by its pivotal role in AI technology. As of December 29, 2025, Nvidia's market capitalization reached an astounding $4.63 trillion, dethroning Apple which now holds $4.04 trillion, according to data from the London Stock Exchange Group and Reuters. This rise reflects Nvidia’s key position in AI applications, supplying specialized chips used to train AI software in data centers.

Other US tech giants remain dominant, with Alphabet climbing to third place with a market cap of $3.79 trillion, overtaking Microsoft. Companies like Broadcom and Taiwan Semiconductor Manufacturing Company (TSMC) have also benefited from growing AI demand, with TSMC entering the top ten rankings for the first time. The US leads the global market, with 16 of the top 20 and 62 of the top 100 companies based there.

Europe, meanwhile, continues to lag in market rankings. The Dutch semiconductor firm ASML is Europe’s highest-ranked company at 24th place with nearly $412 billion valuation. Germany’s largest listed firm, SAP, fell from 32nd to 44th place, now valued at $300 billion. Siemens gained some ground, ranking 72nd with $224 billion, while Allianz sits at 98th with $175 billion. Deutsche Telekom has dropped out of the top tier. The Danish drugmaker Novo Nordisk experienced a significant drop from 24th to 68th amid increased competition eroding its drug’s uniqueness.

Notably, Palantir Technologies, a US data security and surveillance software provider, experienced a 160% surge in market value to $450 billion, climbing from 79th to 22nd place. However, its connections to the Trump administration spark skepticism regarding its future.

This market reshuffling highlights the intensifying influence of AI on global valuation rankings and underlines the widening gap between dominant US tech firms and European companies. German firms, while maintaining presence in the top 100, face challenges keeping pace with rapidly advancing AI-driven markets.