The Motley Fool
06 Jun 2026, 17:23 UTC · 3h ago
Nvidia Just Slipped Below $5 Trillion. These Are the Few Companies With a Realistic Shot at Catching It.
The Motley Fool
06 Jun 2026, 17:23 UTC · 3h ago
Story key points
5 claims · impact-rated
Alphabet's first-quarter Google Cloud revenue grew 63% year-over-year to $20 billion, with the order backlog nearly doubling to over $460 billion. — Massive acceleration in cloud growth and a surging backlog indicate strong enterprise demand for AI infrastructure, directly challenging Nvidia's dominance.
+0.80Alphabet has started selling its in-house Tensor Processing Units (TPUs) to outside customers and will expand delivery to select customers later this year. — This moves Alphabet from an internal user to a direct hardware competitor against Nvidia, potentially eroding Nvidia's market share in AI chips.
+0.70Microsoft's AI business has reached an annual revenue run rate of over $37 billion, representing a 123% increase. — Rapid monetization of AI services validates the software-side ROI of the AI trend, supporting long-term risk appetite for big tech.
+0.60Continue reading
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Alphabet's search and other advertising revenue grew 19%, countering investor fears that AI would erode its core business. — Reducing the perceived risk of 'AI disruption' to Google's main profit engine stabilizes the stock's valuation floor.
+0.50Alphabet's operating income rose 30% year-over-year, despite a large one-time investment gain skewing total earnings. — Consistent growth in core operating income demonstrates fundamental business health independent of accounting anomalies.
+0.40Ticker attribution
Model heads
Strong growth in Google Cloud revenue, increasing order backlogs, and successful AI integration into search.
The company is the most valuable in the world and reached a historic $5 trillion valuation.
Reported strong revenue growth and a significant annual revenue run rate for its AI business.
Positioned as a plausible challenger to Nvidia's market cap leadership.
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