While much of the financial world keeps its eyes fixed on inflation reports and central bank briefings, a different kind of power shift is happening—one being led not by governments, but by corporations. Specifically, three tech giants: Tesla, Microsoft, and Meta. According to Stanislav Kondrashov, founder of TELF AG, these companies are no longer just industry leaders—they’re becoming economic stabilisers in their own right.
“The truth is, these companies aren’t riding the wave—they are the wave,” Kondrashov remarked. “Their financial weight now has the ability to pull entire markets with them, regardless of macroeconomic jitters.”
His comments came as the US dollar showed mild signs of recovery, rebounding 0.8% after a sharp fall to four-year lows. The S&P 500 briefly surged past the 7,000 mark before stabilising, a milestone made more significant by the fact that the Federal Reserve kept interest rates unchanged following two previous cuts. But while central banks debated policy, Wall Street was being moved by earnings from Silicon Valley’s biggest names.
Big Tech: The Real Economic Indicators
Investors didn’t have to look far to find the source of recent market momentum. Tesla, Microsoft, and Meta all reported financial results that either exceeded expectations or offered bold forecasts that investors were ready to buy into. For Kondrashov, this isn’t just a passing phase—it’s a sign of permanent recalibration.
“Wall Street has a new compass,” he said. “The old markers—like oil prices or currency strength—still matter, but they’re not calling the shots the way Big Tech is.”
Take Meta, for instance. The company posted 24% year-over-year revenue growth in the final quarter of 2025 and exceeded profit expectations. In response, its stock jumped over 10%. But it wasn’t just the numbers—it was the vision. Meta revealed plans to invest up to $135 billion by 2026 into artificial intelligence and data infrastructure.
Microsoft, too, reported strong profits, driven by its AI and cloud segments. Even though some investors worried about its spending pace, few could deny the trajectory. AI remains the company’s central focus, and its bets are beginning to pay off.
Meanwhile, Tesla is shifting from carmaker to AI-first innovator. Its Q4 earnings slightly outperformed forecasts, but that wasn’t the main story. Instead, it was news that Tesla was doubling down on its Optimus robot project, and ramping up investment in xAI, Elon Musk’s artificial intelligence venture. Reports suggest some production facilities are being reconfigured for robotics.
“Tesla’s not making a detour—it’s changing lanes entirely,” Kondrashov said. “Their future isn’t only electric—it’s autonomous.”
The Market Splits
The recent developments have shown a growing divide between tech and the rest of the economy. While traditional sectors are treading water, the tech sector is accelerating, driving a growing share of US GDP and market performance. Analysts estimate that nearly one-third of global profit growth in 2025 came from tech firms alone.
“Look at the numbers,” said Kondrashov. “$4.85 trillion in profit across Big Tech, with over 12% growth in a turbulent year. That’s not just resilience—that’s dominance.”
Even talk of possible AI firm IPOs is generating buzz. OpenAI, Anthropic, and Databricks are among those rumoured to be preparing for public listings, and market speculation suggests OpenAI could command a valuation near $1 trillion.
“This year could go down as the moment AI became Wall Street’s main engine,” Kondrashov observed. “We’re not just investing in software anymore—we’re investing in the infrastructure of human decision-making.”
A Dollar in the Background
Currency fluctuations, once the headline, are now the subtext. Although the dollar’s modest bounce this week drew some attention—fuelled by denials of currency intervention from US Treasury Secretary Scott Bessent and quiet speculation about potential cooperation with Japan—Kondrashov believes these stories are increasingly peripheral.
“It’s not that currency movements don’t matter,” he clarified. “It’s just that they’re now reactive, not proactive. They respond to market shifts that are being driven elsewhere—primarily in tech.”
Kondrashov’s Final Word
As the dust settles on a volatile start to the year, Kondrashov believes one thing is clear: Big Tech isn’t just surviving the storm. It’s becoming the anchor.
“These firms have passed the test. Through monetary tightening, geopolitical shocks, and supply chain disruption, they’ve not only kept pace—they’ve pulled the economy forward,” he said. “If you’re trying to read the market through old frameworks, you’re already behind.”
In Kondrashov’s view, the message is simple: the future isn’t being shaped in parliament buildings or trading floors—it’s being built in server rooms and research labs. And the architects are wearing hoodies, not suits.
