原文标题： Walmart hits $1 trillion market value, joins club dominated by Big Tech giants 原文连结：https://tinyurl.com/4bpwzcwt 发布时间：February 3, 2026 10:58 PM GMT+8 记者署名：By Savyata Mishra, Johann M Cherian and Siddharth Cavale 原文内容： 沃尔玛（WMT.O）， 於周二成为首家市值达到1兆美元的零售商，受益於为期一年的 股价上涨，其股价几乎上涨26%，使其跻身Nvidia和Alphabet等科技巨头之列。 Walmart (WMT.O), opens new tab became the first retailer ever to hit $1 trillion in market valuation on Tuesday, riding on a year-long rally that has seen its shares rise nearly 26%, placing it among the ranks of Big Tech heavyweights such as Nvidia and Alphabet. 沃尔玛的崛起值得注意，因为它成功同时吸引寻求价值与便利的高收入客户，并保留其低 收入购物者核心客群。过去十年，其股价上涨468%，超越S&P 500的264%涨幅，部分归功 於这种双轨策略，竞争对手难以复制。 Walmart's ascent has been notable as it has managed to tap into a mix of appealing simultaneously to higher-income customers seeking value and convenience and retaining its core base of lower-income shoppers. The stock has surged 468% over the past decade, outpacing the S&P 500's 264% gain, in part due to that dual strategy, which competitors have struggled to replicate. 过去五年，这家零售商将其线上市场扩展至超过5亿件商品，推出1小时送达服务，推出 Walmart+以对抗Amazon Prime，并打造价值40亿美元的广告业务，从而提升利润率。关键 在於，沃尔玛及早且积极押注AI，投入数十亿美元於供应链自动化，以提供更新鲜的蔬果 、加速送货并改善库存预测与搜寻功能，这为总部位於阿肯色州本顿维尔的零售商带来营 运优势，根据LSEG汇编的估计，已连续15季超越美国同店销售预期。 In the past five years, the retailer has expanded its online marketplace to over half a billion items, launched one-hour delivery, created Walmart+ to rival Amazon Prime, and built a $4-billion advertising business that boosted margins. Critically, Walmart bet early and aggressively on AI, pouring billions into supply-chain automation to stock fresher produce, speed up deliveries and improve inventory forecasting and search, giving the Bentonville, Arkansas-based retailer an operational edge that has helped it beat U.S. same-store sales estimates for 15 consecutive quarters, based on estimates compiled by LSEG. 投资人对沃尔玛AI投资的乐观情绪进一步推升股价，因为消费者日益将杂货购物转向线上 。在美国每4美元杂货支出中就有1美元花在沃尔玛身上，这家零售商在充满挑战的消费环 境中处於甜蜜点，低收入和中收入家庭正面临通胀、就业市场降温、关税以及最近美国政 府关门的不确定性，所有这些因素都使零售商的「天天低价」策略更具吸引力。 Investor optimism around Walmart's AI investments has further fueled the stock 's rise as consumers increasingly shift grocery shopping online. With every $1 in $4 spent on groceries in the U.S. going to Walmart, the retailer finds itself in a sweet spot in a challenging consumer environment where low- and middle-income households face strain from inflation, a cooling job market, tariffs, and uncertainty from the recent U.S. government shutdown, all of which have made the retailer's every day low price strategy more compelling. 「这真是了不起的成就。我们通常认为一兆美元市值是科技股现象，但沃尔玛是一家务实 的『传统经济』公司，」沃尔玛投资人Charles Sizemore表示，他赞赏零售商投资科技 以降低成本。 "It really is a remarkable accomplishment. We think of trillion-dollar market caps as being a tech-stock phenomenon, but Walmart is a gritty 'old-economy' company," said Charles Sizemore, a Walmart investor, appreciating the retailer 's investment in technology to cut costs. John Furner於2月1日接任沃尔玛全球CEO，面临关键挑战：在AI驱动时代加速公司科技投 资，同时抵御Amazon（AMZN.O），、Aldi和Costco（COST.O），等竞争对手的挑战。 沃尔玛上个月加入科技导向的纳斯达克100指数（.NDX），，该指数收录最具价值的非 金融公司，取代英国药厂AstraZeneca（AZN.L）。 John Furner, stepping into the role as Walmart's global CEO on February 1, faces the critical challenge of accelerating the company's technology investments in an AI-driven era while fending off competition from rivals Amazon (AMZN.O), opens new tab, Aldi, and Costco (COST.O), opens new tab. Walmart was added to the tech-focused Nasdaq-100 Index (.NDX), opens new tab last month, home to the most valuable non-financial companies, replacing British drugmaker AstraZeneca (AZN.L), opens new tab. 它加入美国市值达1兆美元或以上的公司名单，包括Nvidia（NVDA.O），市值4 .5兆美元、Alphabet（GOOGL.O），市值4.1兆美元、Apple（AAPL.O），市值3.9兆美元 、Microsoft（MSFT.O），市值3.1兆美元、Amazon（AMZN.O），市值2.6兆美元、 Meta（META.O），市值1.8兆美元、Broadcom（AVGO.O），市值1.6兆美元、 Tesla（TSLA.O），市值1.6兆美元，以及Berkshire Hathaway（BRKa.N）， 市值1兆美元。 It joins a roster of U.S. companies valued at $1 trillion or more, including Nvidia (NVDA.O), opens new tab at $4.5 trillion, Alphabet (GOOGL.O), opens new tab at $4.1 trillion, Apple (AAPL.O), opens new tab at $3.9 trillion, Microsoft (MSFT.O), opens new tab at $3.1 trillion, Amazon (AMZN.O), opens new tab at $2.6 trillion, Meta (META.O), opens new tab at $1.8 trillion, Broadcom (AVGO.O), opens new tab at $1.6 trillion, Tesla (TSLA.O), opens new tab at $1 .6 trillion, and Berkshire Hathaway (BRKa.N), opens new tab at $1 trillion. 这一里程碑为这家零售商画上完美句点，它於1962年在阿肯色州罗杰斯开设首家门市，如 今在美国拥有4600个据点。沃尔玛於1970年在场外交易市场以16.50美元公开上市，并於 1972年在纽约证交所上市。公司於1997年加入道琼工业平均指数，并数十年来一直是S&P 500的固定成员。沃尔玛股价在下午交易中报127.10美元，此价格反映多次股票分割，最 近一次为2024年2月26日的3拆1。 The milestone caps a remarkable journey for the retailer, which opened its first store in Rogers, Arkansas, in 1962 and now operates 4,600 locations across the United States. Walmart went public in 1970 at $16.50 on the over- the-counter exchange before listing on the New York Stock Exchange in 1972. The company joined the Dow Jones Industrial Average in 1997 and has been a fixture in the S&P 500 for decades. Walmart's stock was trading at $127.10 in afternoon trading. This price reflects multiple stock splits, most recently a 3-for-1 split on February 26, 2024. AI军备竞赛 这家连锁店与OpenAI和Google建立合作夥伴关系，将其线上购物工具直接嵌入其搜寻聊天 机器人。这些不断增长的AI投资也旨在缩小与Amazon的差距，後者凭藉其聊天机器人 Rufus（一款GenAI驱动的购物助理，能回答购物查询）占据先机。 AI ARMS RACE The chain has struck partnerships with OpenAI and Google to embed its online shopping tools directly into their search chatbots. These growing investments in AI are also aimed at closing the gap with Amazon, which had a head start with its chatbot, Rufus, a GenAI-powered assistant that answers shopping queries. 「沃尔玛其实是五种商店於一身，其繁荣来自食品零售。我预期它将在未来几年接近2兆 美元市值，」Navellier & Associates首席投资官Louis Navellier表示，该公司已持 有沃尔玛股票近2年。 "Walmart is really five stores in one and their boom has come from food retailing. I expect it will approach a $2 trillion market capitalization in the next few years," said Louis Navellier, chief investment officer at Navellier & Associates, which has held Walmart shares for nearly 2 years. 心得/评论： Gemini: 沃尔玛创纪录的市值 说明了美国经济目前正处於一个「保守但积极转型」的状态： 消费者虽然在缩减开支（保守） 但大型企业正透过科技加速竞争（转型） ChatGPT: Walmart 市值创新高 不是美国经济过热的象徵 而是「高通膨後时代，美国社会选择更便宜、更确定性生活方式」 的资本市场投票结果 --

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