Saudi Aramco

Aramco is the one non-tech name in the top six, and it earns its spot the old-fashioned way: pumping roughly 9 million barrels of oil a day at some of the lowest extraction costs anywhere in the world, historically cited around $3 a barrel. That cost advantage is what lets Aramco keep paying an enormous dividend -- nearly $98 billion in 2024 -- which in turn funds a meaningful share of Saudi Arabia's Vision 2030 diversification push. Valued at about $1.8 trillion, it's a reminder that the AI boom hasn't rewritten every rule of global finance.