Alphabet

Indian Entrepreneur@indianentrepreneur

Alphabet CEO Sundar Pichai now tops the 2026 HSBC Hurun ranking of global Indians, with his firm worth $4.2 trillion.

Satya Nadella of Microsoft came second, and Alphabet's climb past Microsoft makes it the most valuable firm led by a global Indian. The ranking includes 236 people of Indian descent who head 200 firms based abroad, worth $15 trillion together, up 53% from 2024. For the first time, AI gets its own category, with 18 firms valued at $227 billion, and Cursor, at $60 billion, leads the startups.

Indian Entrepreneur@indianentrepreneur

Jefferies believes the AI investment boom may be past its high point, or heading into a mid-cycle correction, as borrowing costs rise.

Microsoft, Amazon, Alphabet and Meta lifted their combined capital spending 108% year on year to $202 billion in Q3 2026. Worries over funding and profits could leave 2027 spending below the $1.04 trillion analysts currently expect. AI investment accounted for 67% of the 2.1% US GDP growth in the four quarters to Q3 2026.