Walmart is closing in on a $1 trillion market valuation, with its shares needing only a roughly 10% increase to reach that milestone. The retail giant's market cap stood at $913 billion as of the close on January 9.
The company has a history of stock splits, having completed 12 since its initial public offering in 1970, including a 2-for-1 split in February 2024. This track record places it among a small group of public companies with such frequent splits.
Walmart's large scale allows it to purchase products in bulk and offer lower prices than many local stores and national grocery chains. Its stores are positioned as one-stop shopping destinations for both basic necessities and discretionary items.
During periods of economic uncertainty or higher inflation, Walmart has consistently attracted shoppers. Although inflation has decreased from its peak above 9% in June 2022, it remains elevated in certain spending categories like shelter. Economic uncertainty resulting from tariffs imposed by President Donald Trump is seen as potentially driving new customers to Walmart.
The company is deploying artificial intelligence applications to improve supply chain management, including restocking top-selling goods and predicting consumer demand. Its Walmart+ subscription service is gaining traction, with global e-commerce sales surging 27% year-over-year in the latest reported quarter.
Globally, only 12 public companies have reached a $1 trillion market cap through the end of 2025, excluding inflation effects. Most have relied on artificial intelligence as a core growth driver.
Taiwan Semiconductor Manufacturing first achieved a $1 trillion valuation in July 2024. The company, commonly known as TSMC, has been rapidly expanding its chip-on-wafer-on-substrate capacity for Nvidia and other clients but still cannot meet demand for graphics processing units used in AI data centers.
Broadcom followed suit in December 2024, becoming the eighth most valuable public company traded on U.S. exchanges. Its growth is attributed to AI-networking solutions that connect tens of thousands of GPUs and specialty AI chips developed for hyperscale clients.
PwC analysts estimate the addressable market for AI-driven software and systems could reach $15.7 trillion by 2030. The "Magnificent Seven" technology companies, which include seven of the twelve trillion-dollar firms, have benefited from AI's hardware and software applications.
Only Microsoft has maintained its position among the ten most valuable U.S. public companies since 1995, when ExxonMobil and IBM were also on that list. Change remains constant on Wall Street, with technological innovations, competition, mergers, acquisitions, and bankruptcies regularly reshuffling the market's most valuable companies.