By Caitlin McCabe

Here's one way of sizing up the resurgence of the tech trade. The combined market cap of the Magnificent Seven is up $3 trillion since the start of the Iran war, according to Dow Jones Market Data.

The seven tech titans-Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla-are, for the most part, riding high on excitement over artificial intelligence.

Earnings season showed that investments in AI are starting to pay off-even as some investors remained nervous about the massive capital investment powering the boom. The laggard among the group, Meta, has been punished for its spending plans.

Still, the massive gain in combined market value underscores how much the group's fortunes have reversed as investors have embraced the AI trade again.

It wasn't all that long ago that my colleagues were writing post-mortems for the Mag-7. The group's resurgence is one sign of an "AI reality distortion field" affecting the whole economy, as Greg Ip writes.

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(END) Dow Jones Newswires

May 08, 2026 06:46 ET (10:46 GMT)

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