Ankara: The total market value of the world’s top 10 most valuable companies surged by 16.69%, or $4.183 trillion, reaching a total of $29.24 trillion since the onset of the conflict in Iran in late February. This remarkable growth comes in the wake of the United States and Israel launching joint attacks on Iran on February 28, which initially caused fluctuations in the market values of these leading firms.

According to Anadolu Agency, the market cap of these top 10 firms experienced a decline of 4.3%, or $1.077 trillion, over the month following the escalation of tensions, dropping to $23.98 trillion by the end of March. However, recommendations from major investment banks to invest in these firms, coupled with expectations over artificial intelligence (AI) investments, have driven their market values upwards. This trend occurred amid reports of geopolitical tensions easing, resulting in the total market value of the top 10 firms climbing to $27.862 trillion by the end of April. This marked a significant monthly rise of 16.19%, equivalent to $3.882 trillion.

As of the market close on May 8, the value of these firms further surged by 4.94%, or $1.3775 trillion, compared to the end of April, bringing the total market value to $29.24 trillion. Notably, chipmaker Nvidia set a new record in April with a market cap of $5.229 trillion, surpassing the $5 trillion threshold after recovering from a $67.797 billion loss in March. Although Nvidia faced a temporary decline due to profit-taking at the end of the month, it quickly rebounded, surpassing the threshold once again.

Following closely behind Nvidia, Alphabet reached a market value of $4.834 trillion, with Apple at $4.309 trillion-both exceeding the $4 trillion mark. Microsoft ranked fourth among the top 10 with a market value of $3.084 trillion, followed by Amazon at $2.933 trillion, Broadcom at $2.036 trillion, TSMC at $1.89 trillion, Saudi Aramco at $1.769 trillion, Tesla at $1.609 trillion, and Meta at $1.5475 trillion.

During this period, Saudi Aramco’s market value increased by $158 billion, while Tesla experienced a $98.373 billion rise. Conversely, Meta was the only firm in the group to lose value, shedding $92.62763 billion. Among the companies, Broadcom led the percentage increase since the conflict began, with a 34.38% surge, followed by Amazon with a 30.12% rise, and Alphabet with a 28.24% increase.