Nvidia has reached a market capitalisation of $5.7 trillion, overtaking the projected size of Germany’s economy and underlining the growing dominance of major US technology firms in global financial markets.

The California-based chipmaker, whose processors power artificial intelligence systems, gaming technology and data centres, became the world’s most valuable company after its valuation climbed sharply in recent months. According to market data from CompaniesMarketCap, Nvidia’s value reached $5.7 trillion in mid-May, exceeding Germany’s projected 2026 gross domestic product of $5.45 trillion estimated by the International Monetary Fund.

Germany remains Europe’s largest economy and the world’s third largest overall, behind the United States and China. Nvidia’s valuation now places it ahead of every European economy, including the United Kingdom, France, Italy and Spain.

The rapid rise of Nvidia has been driven largely by surging global demand for artificial intelligence technology. The company’s advanced chips are widely used in AI systems, cloud computing infrastructure and machine learning platforms, placing it at the centre of the ongoing AI investment boom.

Jensen Huang recently said growing demand for artificial intelligence could push Nvidia’s annual sales toward $1 trillion within the next two years. Huang joined US President Donald Trump during a high-profile visit to China earlier this week as Washington and Beijing continue discussions over technology and trade relations.

The broader gap between American corporate power and European economies is also widening. The combined market value of the five largest US companies — Nvidia, Alphabet, Apple, Microsoft and Amazon — now stands at more than $20.8 trillion.

That figure exceeds the combined GDP of Europe’s five largest economies: Germany, the United Kingdom, France, Italy and Spain, whose total output amounts to roughly $18.1 trillion.

Europe currently has no company approaching the scale of the leading American technology firms. Dutch semiconductor equipment maker ASML is Europe’s most valuable listed company with a market capitalisation of about $610 billion, far below Nvidia’s valuation.

Swiss pharmaceutical company Roche and British drugmaker AstraZeneca are also among Europe’s largest firms, though their market values remain significantly smaller than those of US technology giants.

Economists note that market capitalisation and GDP measure different aspects of economic activity. GDP reflects the total annual production of goods and services in an economy, while market value represents investor expectations about a company’s future growth and profitability.

Still, the comparison highlights the extraordinary scale reached by a small group of US technology companies during the global AI expansion.

Annual wages across Europe continue to show a sharp divide between higher-paying northern and western economies and lower-income countries in the south and east, according to new figures from the Organisation for Economic Co-operation and Development.

The OECD’s Taxing Wages 2026 report found that average annual gross salaries in Europe ranged from €18,590 in Turkey to €107,487 in Switzerland, making Switzerland the only European country where average wages exceed the €100,000 mark.

Iceland ranked second with annual wages of €85,950, while Luxembourg recorded the highest pay levels within the European Union at €77,844. Denmark and Netherlands completed the top five, with average wages of €71,961 and €69,028 respectively.

Among Europe’s largest economies, Germany led the way with average wages of €66,700, closely followed by the United Kingdom at €65,340. The figures for France, Italy and Spain were considerably lower, standing at €45,964, €36,594 and €32,678 respectively.

The report highlighted the continued gap between western and eastern European economies. Slovakia recorded the lowest wages within the EU at €19,590, while countries including Hungary, Latvia, Poland and Portugal all remained below the €25,000 threshold.

Nine EU countries reported average annual wages under €30,000, underlining the scale of income disparities across the bloc.

Economists say wage differences are shaped by productivity levels, industrial structure, labour market systems and living costs. Countries with strong finance and technology sectors, along with extensive collective bargaining systems, generally report higher salaries.

When wages are adjusted for purchasing power parity, which measures what salaries can actually buy in each country, the gap between European nations narrows noticeably.

In PPP-adjusted terms, Switzerland remained at the top with wages equivalent to 106,532 international dollars. Germany climbed significantly in the rankings, moving from seventh place in nominal terms to second place after purchasing power adjustments were applied. Luxembourg and the Netherlands also ranked highly.

Turkey saw the biggest improvement after the adjustment, jumping nine places from the bottom of the nominal wage rankings to 18th place. Analysts said lower living costs boosted the purchasing power of Turkish salaries despite relatively low nominal incomes.

By contrast, Iceland experienced one of the largest declines in PPP rankings due to its high cost of living, dropping from second to ninth place.

The OECD figures are based on full-time employees in sectors including manufacturing, retail, finance, construction and transport. Agriculture, education, healthcare and public administration were excluded from the calculations.

The report also noted that differences in income tax systems across Europe mean take-home pay can vary significantly even among countries with similar gross salary levels.

Football star Cristiano Ronaldo has expanded his growing business empire by taking a stake in the company behind Portuguese streaming platform LiveModeTV, adding sports media to a portfolio that already spans technology, hospitality, healthcare and entertainment.

The announcement was made on Thursday by the platform, which is operated by Brazilian media company LiveMode. LiveModeTV launched in Portugal in December 2025 as the company’s first international venture and focuses on streaming sports competitions online free of charge.

According to Portuguese sports outlet A Bola, the platform is set to broadcast 34 matches from the 2026 FIFA World Cup live and free for viewers in Portugal, including all matches involving the Portuguese national team.

In a statement shared with Bloomberg, Ronaldo said the partnership aimed to make major sporting events more accessible to fans through digital platforms and social media.

“Sport can change lives,” Ronaldo said, adding that the project seeks to expand the reach of top competitions through YouTube broadcasts and online content distributed across social media platforms.

LiveModeTV also highlighted plans to focus heavily on fan engagement ahead of the World Cup, which is now less than a month away.

“Together, we’re going to bring live football to YouTube in an innovative way, putting the fans at the centre of everything,” the platform said in a statement posted on Facebook.

The investment marks another step in Ronaldo’s steady expansion into business ventures away from the football pitch. The Portugal captain has built a broad portfolio in recent years under his CR7 brand while also investing in companies across multiple industries.

In media, Ronaldo holds stakes in Portuguese media group Medialivre and film studio UR-Marv, a partnership with British filmmaker Matthew Vaughn.

His football-related investments include a stake in Spanish club UD Almería. Ronaldo has also invested in artificial intelligence company Perplexity AI, hotel operator Grupo Pestana, and Insparya, which operates hair restoration clinics.

Additional holdings include investments in nutrition and software businesses as well as Portuguese porcelain manufacturer Vista Alegre.

The move into sports streaming comes as competition intensifies among broadcasters and digital platforms seeking younger audiences through online and mobile viewing. Ronaldo, one of the most followed athletes in the world on social media, is expected to play a major role in promoting LiveModeTV’s coverage during the World Cup.