Brand Finance – Global 500 Brands, 2024

According to the Brand Finance research, brands that have heavily invested in artificial intelligence (AI) have seen significant gains in brand value. NVIDIA, a key supplier of chips in the AI space, has become the fastest-growing brand in the world with a brand value increase of 163% to USD44.5 billion. Microsoft has also seen an impressive increase in brand value, jumping two spots to 2nd place with a brand value increase of 78% to USD340.4 billion. NVIDIA's success can be attributed to its perception as highly innovative and its increased levels of familiarity, consideration, and recommendation. Deutsche Telekom has claimed the title as the world's most valuable telecoms brand with a brand value increase of 17% to USD73.3 billion, surpassing Verizon. Its customer momentum, driven by network strength and successful deployment of fiber and 5G technologies, has led to an increase in connectivity perceptions and customer satisfaction. Tesla, on the other hand, has dropped out of the top 10 brands, falling to 18th place. Its exposure to the Chinese electric vehicle market has harmed its brand value, and BYD has overtaken Tesla as the world's largest EV maker. Tesla's association with controversial leadership figure Elon Musk has also led to a significant fall in reputation. Despite BYD's greater production volume, Tesla's brand value is still five times that of BYD. This demonstrates the enduring significance of brands as corporate assets, allowing Tesla to command a price premium and support its company value. The Global 500, in partnership with Infosys, will be launched by Brand Finance at Davos on January 17, 2024.