The top ten US companies in the stock market are now all dominated by technology and AI-related firms

**Micron Joins U.S. Top 10 Largest Public Companies Driven by AI Boom** On May 30, Micron Technology’s market cap crossed $1.1 trillion, pushing it into the top 10 of the U.S. stock market—surpassing Berkshire Hathaway and Eli Lilly in the process. The group now ruling the U.S. large-cap rankings is entirely made up of tech and AI-focused firms: NVIDIA, Microsoft, Apple, Alphabet, Amazon, TSMC, Broadcom, Meta Platforms, Tesla, and the newly added Micron. Industry analysts credit AI as the core force reshaping how the capital market values companies. Micron’s market cap has surged more than 8-fold in the past year, shifting it from a traditional memory storage maker to a key AI infrastructure beneficiary, fueled by explosive demand for High Bandwidth Memory (HBM). Its latest quarterly results underline this transformation: revenue jumped 196% year-over-year, net profit nearly tripled? No, original says nearly 9 times—adjusted to natural U.S. financial tone: net profit rose nearly 9x YoY, with gross margin hitting 74.4%. The top 10 U.S. large-caps collectively cover every segment of the AI supply chain: NVIDIA leads in compute chips, TSMC handles advanced semiconductor manufacturing, Broadcom works on AI networking and ASIC designs, Micron delivers critical HBM storage, while Microsoft, Alphabet (Google’s parent), and Amazon run dominant AI cloud platforms. Meta is ramping up AI capital spending, and Tesla is betting on its autonomous driving and robotics divisions. Yet the AI investment frenzy has sparked growing concerns. The so-called "Magnificent Seven" U.S. big tech firms are expected to spend over $700 billion on capital expenditures in 2026, but the commercial returns on their AI bets remain unproven. Insiders warn that a slowdown in AI capex growth could trigger widespread cuts to earnings forecasts and valuations across related sectors. Additionally, as billions flow into data centers, advanced packaging, and network infrastructure, a debate is heating up over whether AI infrastructure will face oversupply down the line. Analysts note the shakeup in U.S. stock market cap rankings reflects capital shifting away from traditional industries to AI infrastructure and technology platforms. In the long run, however, the industry’s final landscape will be determined by actual customer demand and sustainable profitability, not just current hype.