Six AI Centurions Reach $1 Trillion Combined Value as GE Vernova Surges to $288 Billion
Updated
Updated · Fortune · Jul 28
Six AI Centurions Reach $1 Trillion Combined Value as GE Vernova Surges to $288 Billion
2 articles · Updated · Fortune · Jul 28
Summary
$1 trillion is now the combined market value of six AI-driven companies that were worth about $90 billion in mid-2023, with each topping $100 billion and posting annualized stock gains above 100%.
GE Vernova led the group at $288 billion on July 21, followed by Sandisk at $235 billion, Seagate at $181 billion, Western Digital at $168 billion, AppLovin at $143 billion and Vertiv at $114 billion.
AI infrastructure demand powered the jump: Vertiv sells cooling systems, Seagate, Western Digital and Sandisk supply storage, GE Vernova provides turbines for data centers, and AppLovin benefits from AI-enabled ad targeting.
At the median, the six stocks advanced at a 145% annual pace over three years, outpacing the roughly 30% gain for the Magnificent Seven and contributing more than 3.5% of the S&P 500's market-cap increase.
Their valuations still hinge on hyperscalers sustaining AI spending, which has risen from $35 billion in 2023 to a $650 billion run rate this year and is projected at $1.0 trillion to $1.1 trillion in 2027.