There has been a significant gain in brand value among companies that have heavily invested in artificial intelligence (AI), with NVIDIA now the world’s fastest-growing brand (up 163% to $44.5 billion), according to the “Brand Finance Global 500 2024” report. Other findings:

• After achieving a 74% growth in brand value, Apple reclaimed its No. 1 ranking;
• Microsoft saw a significant brand value increase, up 78%, to $340.4 billion, propelling it up into second place in the rankings;
• WeChat was named the world’s strongest brand;
• Tesla dropped out of the top 10, falling to 18th place, due in part to its large exposure to the Chinese EV market and a reputation hit due to the company’s close association with Elon Musk, a controversial leadership figure; and
• Deutsche Telekom is now the world’s most valuable telecom brand, surpassing Verizon, and ranking ninth globally.

Brand value is estimated using a relief from royalty method, which is based on the notion that companies that own their brands are relieved from paying royalties to use them. The estimates are developed by reviewing comparable licensing agreements sourced from various databases. The report goes into detail about their brand valuation method.