U.S. tech stocks added $420 billion in market cap last week, lifting their combined value to $21 trillion, according to CNBC. Alphabet jumped more than 10% after a favorable remedies ruling in its antitrust case, which also boosted Apple 3.2% as the companies maintained their lucrative search deal. The decision, seen as a relief for Big Tech, clears the path for future AI partnerships between Apple and Google’s Gemini. Broadcom surged 13% on earnings and a $10 billion customer deal, reportedly with OpenAI, pushing its market cap to $1.6 trillion. Tesla shares rose 5% this week after the company proposed a pay package for Elon Musk worth nearly $1 trillion, contingent on major market cap growth. The plan, split into 12 tranches, aims to keep Musk motivated and focused, according to Chairwoman Robyn Denholm.
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