Silver Surges Past Alphabet to Claim Fourth-Largest Market Cap Amid Industrial Demand Boom
Silver prices soared to a record $66.52 per ounce on December 17, 2025, propelling its market capitalization beyond $3.7 trillion—enough to eclipse Alphabet Inc. as the world’s fourth-most valuable asset. The metal’s 127% year-to-date rally reflects dual demand as both an inflation hedge and critical component in renewable energy, EVs, and data center infrastructure.
Industrial consumption reached an all-time high of 680.5 million ounces in 2024, driving the breakout. Mixed U.S. labor data has further fueled the rally, with investors anticipating sustained Fed rate pauses. This marks silver’s first return to record territory since its 2011 peak at $50, a level it failed to hold during the subsequent decade.