AI Push Propels Walmart Into Tech Elite
Walmart has become the first retailer ever to reach a $1 trillion market valuation, capping a year-long rally that has lifted its shares nearly 26% and placed the company alongside Big Tech heavyweights such as Nvidia and Alphabet.
The Bentonville, Arkansas–based retailer has benefited from wealthier consumers gravitating toward faster delivery options and expanding their spending on discretionary categories including apparel and furniture. Over the past decade, Walmart’s stock has surged 468%, far outpacing the roughly 264% gain of the S&P 500.
The milestone comes against a challenging backdrop for U.S. consumers. Low- and middle-income households have faced mounting pressure from persistent inflation, a cooling labor market, new tariffs, and uncertainty tied to a recent U.S. government shutdown, all of which have weighed on spending.
Walmart’s ascent follows its inclusion in the tech-focused Nasdaq-100 Index, where it replaced AstraZeneca earlier this month. The index tracks the largest non-financial companies listed on the Nasdaq exchange.
A key driver of Walmart’s transformation has been its aggressive investment in artificial intelligence. The company has poured billions of dollars into automating its supply chain, improving inventory management, boosting delivery speeds, and stocking stores with fresher produce as more consumers opt to buy groceries online.
“They’ve gone from just being the local retailer for good prices to really embracing technology,” said Eric Clark, chief investment officer at Accuvest Global Advisors. “It’s been a massive digital business transformation over the last five years.”
Walmart now joins an exclusive group of U.S. companies valued at $1 trillion or more, including Apple, Microsoft, Amazon, Meta, Broadcom, Tesla, and Berkshire Hathaway.
According to Brian Mulberry, senior client portfolio manager at Zacks Investment Management, Walmart is increasingly being viewed as “the new AI giant,” citing its ability to integrate artificial intelligence across its operations to reduce costs and capture a larger share of consumer spending.
