Time magazine has named the companies shaping the future of artificial intelligence. We compiled them into a clear infographic to show who holds the key positions in the AI market by market capitalization, how much their shares are worth, and which types of companies stand behind AI beyond chatbot developers.
Chip Manufacturers
The first link in the AI business chain is chip manufacturing. AI providers rely on these chips to train and run their AI systems.
By total market capitalization—both among chipmakers and AI-related companies overall—Nvidia leads the list. Its AI chips power around 90% of the global market. Nvidia is not only the largest AI-related company but also the most valuable company in the world. In October this year, its market capitalization reached $5 trillion, though it has since slipped slightly to about $4.3 trillion.
Among other chipmakers, the list includes TSMC (Taiwan Semiconductor Manufacturing Company). With a market capitalization of $1.49 trillion, TSMC ranks sixth overall and second among chip manufacturers.
ASML, with a market capitalization of $422.23 billion, holds eighth place overall and third in the chip category. It is the world’s only supplier of extreme ultraviolet (EUV) lithography machines, which are essential for “printing” ultra-small features on silicon chips.
AMD rounds out both rankings with a market capitalization of $337.94 billion. Despite this, AMD partnered with OpenAI in October, meaning one of the world’s most prominent AI developers is expected to use AMD chips. The deal could give OpenAI up to a 10% stake in AMD’s business.
Computing Infrastructure Providers
AI computing infrastructure primarily consists of data centers, which AI providers rent to train and deploy their models.
The largest computing infrastructure provider by market capitalization is Alphabet Inc. (Google), valued at $3.80 trillion and ranking second overall. Alphabet also develops its own AI model, Gemini.
Next in the ranking are Microsoft ($3.56 trillion) and Amazon ($2.37 trillion). The smallest among the computing providers is Oracle, which has a market capitalization of $531.29 billion and ranks seventh overall, trailing only TSMC among chipmakers.
Microsoft is a major investor in OpenAI and also an AI provider itself through Copilot. Oracle is a key partner of OpenAI, while Amazon is one of the leading investors in Anthropic, the developer of Claude.
AI Providers
Among AI providers, Time included OpenAI, Meta, xAI, and Anthropic. However, only Meta appears in the infographic—with fifth place overall and a market capitalization of $1.63 trillion—because the other providers are not publicly traded. OpenAI’s estimated valuation is currently around $830 billion, Anthropic’s about $350 billion, and xAI’s roughly $230 billion.
