How are Chinese firms faring as AI and tech reshape global market cap rankings?

China’s state-owned banks and energy majors – once shoulder to shoulder with American firms at the top of market capitalisation rankings – have fallen behind as AI and technology companies capture the imagination of global investors, redirecting capital and reshaping the global corporate order. As of Friday, Nvidia topped the global rankings, with a market capitalisation of about US$5.1 trillion, followed by Alphabet and Apple. According to financial data provider CompaniesMarketCap, seven US...