Where Data Tells the Story
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From May 2015 to May 2025, total U.S. stock market capitalization rose 128%, growing from $27.1 trillion to $61.6 trillion—a $34.6 trillion increase. Over the same period, the combined market capitalization of ten major U.S. tech firms—Alphabet, Amazon, Apple, Broadcom, Meta, Microsoft, Netflix, Nvidia, Palantir, and Tesla—soared by 810% ($16.6 trillion). The rest of the NASDAQ gained 111% ($5.9 trillion), while the New York Stock Exchange (NYSE) rose by 61% ($12.0 trillion). Altogether, NASDAQ accounted for 65.2% of total U.S. market cap growth (with Big Ten Tech contributing 48.1% and the rest of NASDAQ 17.2%), while the NYSE contributed the remaining 34.8%.