US Companies Poised to Maintain Dominance in Global Stock Market with AI Boom
According to JPMorgan Asset Management, US companies are already leading the global stock market in terms of size, and this dominance is expected to continue, thanks to the advancement of artificial intelligence (AI). In their 2025 Long-Term Capital Market Assumptions report, JPMorgan projected that the market cap share of US companies in the total global equity market will decrease slightly from 64% currently to 60% by 2037. Despite this decline, the US is forecasted to maintain a significant lead over China, the estimated second-largest market share.
Monica Issar, JPMorgan Asset Management’s global head of multi-asset and portfolio solutions, highlighted that the US will persist as the leader in market cap share as AI applications expand beyond the realm of big tech companies. The increased adoption of AI is expected to boost revenue production and enhance profit margins for US corporations across various industries.
One key factor driving this trend is the integration of AI components into companies outside of the tech sector, such as Utilities and Energy, as they leverage AI chips from companies like Nvidia. As AI technologies streamline operations and optimize efficiency, companies are anticipated to realize cost savings and bolster their bottom line.
Notably, Nvidia’s market capitalization alone surpasses that of most G7 countries, underscoring the significance of US companies in the global stock market. While this showcases the US’s dominance, there are concerns that a decline in Nvidia’s value could pose a risk to the overall market.
Despite these apprehensions, experts like DataTrek Research co-founder Nicholas Colas remain optimistic about the prospects for US companies in the AI landscape. Colas emphasized that the likelihood of non-US tech companies challenging the current US market leaders like Apple, Nvidia, Microsoft, Amazon, Alphabet, and Meta is minimal. With the US at the forefront of AI adoption and well-positioned to lead in the technology’s global expansion, the country is poised to maintain its dominance in the equity market.
In conclusion, the increasing integration of AI technologies across various industries is set to propel US companies to greater market share and profitability. As the AI boom continues to transform business operations and drive innovation, investors should keep a close eye on US firms and their ability to leverage AI for sustainable growth and competitive advantage.
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