(MENAFN) The rapid growth of artificial intelligence (AI) and social media platforms has propelled tech companies to the forefront of global markets, intensifying discussions around what some economists call techno-feudalism.

Techno-feudalism describes a system reminiscent of medieval feudal structures, in which a few major firms hold concentrated control over digital infrastructure. In this framework, companies like Google, Amazon, Meta, and Apple are viewed as the “feudal lords” of the digital era, wielding economic and social influence once reserved for governments.

Economist and former Greek finance minister Yanis Varoufakis popularized the term, asserting that users have become digital serfs, surrendering personal data and content in exchange for access to platforms that appear free.

Critics highlight that only a handful of firms control enormous amounts of data and dominate key sectors, including advertising, entertainment, news, e-commerce, and online services.

Data from MarketCapshows that these companies’ growth has accelerated over the last decade, cementing technology firms as market leaders. US chipmaker Nvidia tops the list with a $4.58 trillion market capitalization, fueled by high demand for its AI chips and graphics processing units.

Apple follows with a $4 trillion valuation, deriving much of its revenue from App Store downloads and subscription services. Microsoft ranks third at $3.78 trillion, generating income from its Windows-based platforms and LinkedIn.

Google holds fourth place with a $3.5 trillion market cap, supported by its AI capabilities and data processing power. Its Chrome browser is used by 73.2% of internet users, and 90% rely on Google as their search engine, according to analytics firm Statcounter. The company faces scrutiny over anti-competitive behavior, particularly in the US, where regulators claim it dominates sectors from advertising to communications.

Amazon is fifth at $2.35 trillion, largely due to Amazon Web Services, which provides cloud solutions to governments and private organizations globally.

Meta Platforms is valued at $1.5 trillion and, like Google, has faced criticism over its algorithm practices. Its platforms—Facebook, Instagram, and WhatsApp—boast billions of monthly active users, with Facebook alone reaching 3.07 billion. Holding the three largest social media networks under its umbrella, Meta has been targeted by multiple monopoly lawsuits.

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