Alphabet, Apple and Microsoft each net over $100 billion; Nvidia nearly matches

So what

Corporate profit is extraordinarily concentrated: Alphabet, Apple and Microsoft each net more than $100 billion, with Nvidia close behind at $99 billion. Nvidia's 54% net margin, matched only by Visa, shows the economics of the AI build-out, while Chinese state banks, Aramco and Toyota keep Asia and the Gulf in the top 20. The ranking also shows that scale and margin are different games: Walmart nets $23 billion at a 3% margin.