Inside Walmart's Rise to a US$1tn Market Value

With a combination of massive scale, intense innovation and investor confidence in future growth, very few companies can make it to a 13-figure valuation.

Among the likes of NVIDIA, Microsoft and Alphabet, only tech firms have been welcomed into the trillion-dollar club. That is until Walmart.

On 3 February, Walmart became the first traditional retailer to hit a US$1tn valuation, thanks to the firm’s share price soaring in recent months and rising 3% on this particular day.

At the start of the month the retailer reported US$179.50bn in Q3 fiscal 2026 revenue, over 6% growth and raised its full-year guidance due to increased market share, robust e-commerce and high-income customer acquisition. 

As one of the biggest household names in the US known for its low prices, the firm’s recent success under now former-CEO Doug McMillon has seen it rise rapidly.

Behind the success at Walmart

Walmart's recent growth in particular has been driven by a combination of rapid e-commerce growth, aggressive AI adoption and a strategy that appeals to both budget-conscious and higher-income shoppers.

Walmart has successfully transformed into a hybrid omnichannel powerhouse. E-commerce sales have seen significant increases, aided by services like curbside pickup and fast home delivery.

Under Doug, the firm also started investing more in technology, specifically using AI for supply chain automation, inventory forecasting and improved search functionality. 

This includes partnering with OpenAI to integrate shipping tools into AI-powered chatbots. At the time of the announcement in October 2024, Walmart said: “The future of retail isn’t about replacing human connection with machines, it’s about using AI to remove friction and make everyday moments easier, smarter and more delightful.”

OpenAI CEO Sam Altman also said: “We’re excited to partner with Walmart to make everyday purchases a little simpler.

“It’s just one way AI will help people every day under our work together.”

Employee sense of belonging

Officially taking the helm on 1 February, John commenced the next era of Walmart. 

In his first few days as CEO, he announced on LinkedIn that has been visiting stores in Mexico and Canada. “It was great to be back in Monterrey, Mexico, for the first time since I interned there in 1994,” he said.

John added: “A lot has changed since then, but the energy, pride and passion our associates bring to their work is stronger than ever.

“While there, I had the chance to meet Carlos, the store manager, along with his dad, who worked in that same store when I was an intern. It was a full circle moment and a powerful reminder of the opportunities we create and the culture we’ve built at Walmart.”

This attention to company culture is continued on Walmart’s website, where it celebrates its ‘Everyday Legends’. On 3 February, Walmart posted a tribute to Oscar Romero who started as an 18-year-old at the Calexico, California store.

“Under store manager Oscar’s leadership, nearly 200 associates have stayed at the Calexico store for over 20 years,” Walmart wrote. “Loyalty thrives where people come first.”

This shows Walmart's commitment to not only technological and financial growth, but recognition towards the fact that none of it is possible without its employees, promoting “fairness and the same treatment for all associates”.