A Handful Of Big Tech Companies Surged By $8 Trillion In Market Value Since ChatGPT's Launch – Marking A New Era

Over two years ago, OpenAI unveiled ChatGPT, a generative AI chatbot that revolutionized the industry. What began as a small project swiftly grew into the fastest-growing app in history (before Threads dethroned it later that year), currently boasting 200 million active users. One thing is evident even though its effects on businesses and daily life are still evolving: ChatGPT has been a huge boon for Big Tech.

According to Bloomberg, the six largest tech companies – Google, Amazon, Apple, Meta, Microsoft and Nvidia – have added over $8 trillion in market value since its launch.

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When ChatGPT went live, it kicked off an AI boom, getting people and businesses excited about new possibilities. Nvidia, for one, has skyrocketed to become one of the world's most valuable companies, even taking the number-one spot at times. AI demand has boosted its chip sales and positioned it as the backbone of this growing tech revolution. By December 2024, Nvidia's market cap had surged by an incredible $3 trillion, recovering from a $54 billion drop in value in January 2023 relative to ChatGPT's launch in November 2022, according to a report by Visual Capitalist.

Microsoft's trajectory has been similarly remarkable. After losing $194 billion in January 2023, its market cap rebounded by $1.2 trillion by December 2024, supported by growing AI and cloud adoption. Amazon's valuation followed suit, climbing by $1.1 trillion in November 2024. Meta and Alphabet saw big gains, too, with companies growing by $1.1 trillion and $845 billion in market cap by late 2024, respectively.

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Despite its initial volatility, Apple saw a recovery. By December 2024, its market capitalization had grown from losing $345 billion in January 2023 to gaining $1.1 trillion.

As companies of all sizes rushed to implement AI solutions, cloud providers like Microsoft, Amazon and Google experienced tremendous growth. According to Crunchbase data, generative AI businesses have been consuming venture funds, making up about 35% of all VC funding this year.

Having recently raised $6.6 billion at a valuation of $157 billion, OpenAI has grown into a behemoth comparable to firms like AT&T and Goldman Sachs. 

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ChatGPT vs. Google

Perhaps the most intriguing shake-up is ChatGPT's rising challenge to Google's dominance in search. A survey showed ChatGPT now captures 5% of the search market, up from 1% in June, with Millennials leading the way.

But Google won’t be going down without a fight. According to 71% of users, its Gemini AI and new search functions are still more popular than ChatGPT. Nevertheless, even a small shift in search market share is worth billions.

OpenAI has taken aggressive steps to compete, rolling out a full search feature and partnering with Apple to make ChatGPT more accessible. Whether it can monetize these efforts as effectively as Google remains to be seen.

In the end, despite AI’s huge impact, established tech firms have reaped the most rewards. High costs and competition from big firms make it difficult for startups to compete. Smaller startups often focus on niche markets like health care and law to avoid competing with the internet giants.

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