The top ten companies on the US stock market are now all technology and AI-related enterprises.

According to Mars Finance, on May 30th, Micron Technology's market capitalization surpassed $1.1 trillion, exceeding Berkshire Hathaway and Eli Lilly and Company, officially entering the top ten in US stock market capitalization. Currently, the top ten US stock market capitalizations are all occupied by technology and AI-related companies, including NVIDIA, Microsoft, Apple, Alphabet, Amazon, TSMC, Broadcom, Meta Platforms, Tesla, and Micron Technology. Analysts believe that AI is driving a structural shift in the pricing logic of the capital market. Micron's market capitalization has increased more than eightfold in the past year, with the explosive growth in demand for high-bandwidth memory (HBM) transforming it from a traditional storage vendor into a core beneficiary of AI infrastructure. The company's latest fiscal quarter saw revenue increase by 196% year-over-year, net profit increase by nearly ninefold, and gross margin rise to 74.4%. The current top ten companies by market capitalization in the US stock market almost cover all key links in the AI industry chain: Nvidia provides computing chips, TSMC is responsible for advanced manufacturing, Broadcom focuses on AI networks and ASICs, Micron provides HBM storage, Microsoft, Google, and Amazon dominate AI cloud platforms, Meta continues to expand its AI capital expenditure, and Tesla is betting on autonomous driving and robotics. However, the market is also beginning to pay attention to the risks behind the AI investment boom. Data shows that the total capital expenditure of the "Big Seven" US stocks in 2026 is expected to exceed $700 billion, while the commercial returns of AI remain to be seen. Industry insiders warn that if the growth rate of AI capital expenditure slows down in the future, it may trigger a simultaneous downward revision of earnings expectations and valuations in related sectors. In addition, with the continued expansion of investment in data centers, advanced packaging, and network infrastructure, discussions about whether there will be overcapacity in AI infrastructure in the future are gradually heating up. Analysts believe that the changes in the US stock market capitalization rankings reflect that capital is concentrating from traditional industries to AI infrastructure and technology platforms, but in the long run, the industry landscape will ultimately be determined by real demand and profitability.