Walmart $WMT ( ▲ 0.23% ) just crossed the $1 trillion valuation mark, becoming the first retailer ever to reach the milestone. That puts the 63-year-old giant alongside a small group of US companies that have hit the four-comma club, most of them tech heavyweights.
Turns out the “brick-and-mortar dinosaur” learned some very digital tricks.
Retail Roots, Tech-Style Growth
After years of relatively flat performance in the early 2000s, Walmart’s stock has been on a steady climb, with momentum accelerating recently. Shares are up strongly over the past year, outpacing the broader market and many retail rivals.
The rally reflects Walmart’s ability to attract both budget-conscious shoppers and higher-income customers looking for convenience. Its e-commerce business and same-day delivery network now reach about 95% of US households, blurring the line between traditional retail and tech-enabled logistics.
Ads, AI, and a Higher-Margin Mix
Walmart’s fast-growing digital advertising business is also playing a big role. Retail media has become a high-margin revenue stream, giving Walmart $WMT a profit engine that looks more like a platform company than a supermarket chain.
Add in partnerships tied to AI tools from companies like Alphabet and OpenAI, plus its inclusion in the Nasdaq 100, and investor perception has shifted. Walmart is increasingly viewed as a tech-powered retail ecosystem rather than just a chain of big-box stores.
A Milestone During a Leadership Shift
The trillion-dollar moment comes as leadership changes hands, with a new CEO stepping in after a long tenure under previous management. Walmart $WMT ( ▲ 0.23% ) is also set to report earnings soon, which will test whether its digital, advertising, and delivery momentum can keep supporting this new valuation tier.
For now, the message from the market is simple: Walmart is not just surviving the digital era. It is leaning into it.