We recently compiled a report on the 50 Largest Companies in Every State in the US, and in this article we will look at the largest company.
Economy of US
The United States holds the title of the largest economy in the world, according to the IMF in 2024 the United States had a GDP of approximately $28.78 trillion, a GDP per capita of around $85,370, and an annual GDP growth rate of 2.7%. In 2025, GDP is expected to rise to $29.84 trillion whereas GDP per capita is expected to rise around $87,980. The United States possesses a large and skilled labor force, a culture of innovation and entrepreneurial spirit along with highly diversified companies in technology, finance, manufacturing, healthcare, and entertainment which generate productivity and economic growth. Additionally, the U.S. dollar serves as the world’s primary reserve currency and is used to facilitate international trade and investment.
Certain regions in the United States stand out as hubs of economic power and innovation. Silicon Valley in the San Franciso Bay Area, California has long been the hub of technological innovation in software, hardware, and biotechnology. Some of the largest tech giants such as Apple Inc. (NASDAQ:AAPL), NVIDIA Corporation (NASDAQ:NVDA), Meta Platforms, Inc. (NASDAQ:META), Alphabet Inc. (NASDAQ:GOOG) among many others are headquartered in Silicon Valley. Wall Street, the financial district in Lower Manhattan in New York City on the other side is home to major financial institutions such as JPMorgan Chase & Co. (NYSE:JPM), The Goldman Sachs Group, Inc. (NYSE:GS), and Morgan Stanley (NYSE:MS). Wall Street serves as the center of the world’s financial markets and facilitates the flow of capital, investments, and trading activities on a massive scale. In recent years, there has been a notable trend of companies relocating from high-tax states to low-tax states in pursuit of cost savings and favorable business environments. Tesla, Inc. (NASDAQ:TSLA) and Oracle Corporation (NYSE:ORCL) are some of the largest companies that moved their incorporations from California to Texas. According to CNBC, more than 60% of Fortune 500 companies are headquartered in Delaware. Delaware is one of the top choices for corporations due to their business-friendly policies, lower taxes, reduced regulation, and incentives for relocation. Delaware has a strategic location and its corporate law is highly developed, the state’s Court of Chancery, a specialized court for business disputes, is known for its efficient resolution of legal cases. It allows businesses to maintain confidentiality and offers incentives for relocation such as tax credits, grants, and loans. Delaware does not have a state sales tax, and its corporate income tax of 8.7% is considered one of the lowest in the United States. You can also take a look at 15 States with No or Lowest Sales Tax Rates in the US.
Largest Company in the US
Founded in 1975, Microsoft Corporation (NASDAQ:MSFT) remains a globally recognized company known for its software products, such as the Windows operating system and Office productivity tools. Microsoft Corporation’s (NASDAQ:MSFT) Azure AI has also continued to lead in innovation by offering advanced APIs and models that are revolutionizing industries with its responsible AI solutions that facilitate the creation, reception, and interaction with images, videos, and audio. Azure’s market share is expanding due to its extensive portfolio of AI and cloud services. Over 65% of Fortune 500 companies and 53,000 customers now use the Azure OpenAI Service. The introduction of the Models as a Service API and partnerships with Nvidia and AMD for AI hardware accelerators are significantly boosting the growth of Microsoft’s cloud business. Additionally, Microsoft’s Copilot offerings, integrated into Microsoft 365, Dynamics 365, and GitHub, are transforming productivity and democratizing AI-powered capabilities, further increasing Microsoft’s share in office productivity tools.
Azure AI Services has also impacted the legal industry by efficiently managing and analyzing vast amounts of data in the fast-paced legal environment and the legal field is highly exposed to the effects of new AI technologies. With traditional data sources like emails and documents now supplemented by complex data types such as chat data and video recordings, legal teams face significant challenges. AI is increasingly used to streamline processes, reduce risks, and boost efficiency. Companies like Icertis, Relativity, and Clifford Chance are at the forefront of integrating AI into their operations by leveraging Azure AI Services to enhance contract management, e-discovery, and overall legal service delivery. Microsoft Corporation’s (NASDAQ:MSFT) commitment to responsible AI, ensuring data privacy, security, and governance highlights how AI advancements are driving growth, productivity, and innovation across industries.
On April 25, Microsoft Corporation (NASDAQ:MSFT) reported that its revenue for the three months ended March 31, increased by 17% year over year to $61.9 billion and net income increased by 20% year over year to $21.9 billion. The company’s Azure and cloud services revenue increased 31% year over year and Microsoft Cloud revenue amounted to $35.1 billion.
While Silicon Valley, leads the world in technology and innovation and New York’s Wall Street serves as the global hub for banking, investments, and trading, each state in the United States possesses its own unique strengths and specialties. With this context, let’s take a look at the list of the 50 largest companies in every state in the US.
Pixabay/Public Domain
Our Methodology
To make our list of the 50 largest companies in every state in the US, we scanned the Finviz and Yahoo Finance stock screeners to find the largest companies by market capitalization, as of June 11, 2024. Then we checked where the headquarters of these companies are located. To quantify the “value” or “size” of private companies, we selected either the estimated valuation, the annual revenue available for the most recent fiscal year, or the number of employees, subject to the availability of data. The estimated valuation was sourced from major media reports based on the private companies’ latest funding round. The annual revenue or number of employees was sourced from official statements by the company and the company’s website. We have ranked the 50 largest companies in every state in the US in ascending order of largest companies incorporated in that state according to their market capitalization, as of June 11, 2024.
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The Largest Company in the US
1. Microsoft Corporation (NASDAQ:MSFT)
State: Washington
Market Cap: $3.18 Trillion
Microsoft Corporation (NASDAQ:MSFT) is known for its dominance in the software industry and is diversified into cloud computing, gaming with Xbox, and hardware such as surface devices. Microsoft Corporation (NASDAQ:MSFT) was incorporated in Washington state on June 25, 1981, reincorporated in Delaware on September 19, 1986, and again in Washington on September 22, 1993 and has its registered office is located in Seattle, Washington. As of June 11, Microsoft Corporation (NASDAQ:MSFT) is the largest company in the world and is valued at $3.18 trillion.
To learn about the largest companies in other states, check out our report on the 50 Largest Companies in Every State in the US.
At Insider Monkey, we delve into a variety of topics, however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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