All-time highs everywhere!

Almost all major US equity indices are at new peaks (S&P 500, Nasdaq 100, SOX Index). Year-to-date the S&P 500 is up 15.47%, the Nasdaq 100 is up 20.68%, and the chipmakers’ SOX Index is up 40.10%!

But how have individual AI companies performed this year? Below are the returns for 50 global companies with the largest exposure to AI.

For AI companies with market caps above $1 trillion (Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta, Broadcom, TSM, Tesla):

The highest return in 2025 was delivered by Broadcom at +52.74%, and the lowest was Amazon at only +2.20%! See Figure 1.

AI companies with market caps from $200bn to $1trn (Oracle, Tencent, Netflix, Samsung, Palantir, Alibaba, ASML, AMD, Cisco, IBM, Salesforce, Siemens, SK Hynix, Micron, Shopify, AppLovin):

The highest return in 2025 was delivered by SK Hynix +193.27%, and the lowest by Salesforce -22.70%. See Figure 2.

AI companies with market caps from $100bn to $200bn (Uber, Arista, ServiceNow, Intel, Applied Materials, Qualcomm, Lam Research, ARM, Texas Instruments, Accenture, Adobe, Palo Alto, KLA, Crowdstrike, Analog Devices, Dell):

The highest return in 2025 was delivered by Lam Research +109.39%, and the lowest by Accenture -29.60%. See Figure 3.