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Brand Finance US 500 2024: Artificial Intelligence Boosts Brand Value

20 March 2024
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  • NVIDIA is America’s fastest-growing brand – the AI computing giant’s brand value skyrockets 163%
  • Companies across sectors that are using AI experience brand value growth, including Johnson & Johnson (up 5%), Ally Bank (up 31%), American Express (up 7%) and Bloomberg (up 22%)
  • Apple reports a remarkable 74% growth in brand value, according to Brand Finance data, reclaiming its rank the as the country’s and world’s most valuable brand

March 20, 2024 (NEW YORK) –Amid ongoing – and sometimes heated – discussion around the application, impact, and actual business value of artificial intelligence (AI), new data reveals that AI is already accelerating the value of American brands. The US 500 2024 report published by Brand Finance reveals significant increases in brand value among brands that have invested in AI.

NVIDIA is now United States’ fastest growing brand, with a brand value increase of 163% toUSD 44.5 billion. Brand Finance's research indicates significant improvements in key brand metrics such as familiarity, consideration, and recommendation levels, reaffirming NVIDIA's status as a frontrunner in the AI space. Microsoft (brand value up 78% to USD 340.4 billion) has also recorded an impressive brand value increase, jumping up two spots to become the 2nd most valuable brand in the US and world as the company’s AI strategy has positioned it as a major player in the application and monetization of the emerging technology. Fellow GPU manufacturer AMD has also recorded a solid 27% brand value increase to USD 8.8 billion, fueled by its remarkable financial performance and strategic initiatives in AI and high-performance computing.

“Brand Finance's latest findings highlight the transforming power of artificial intelligence across industries. While AI generates significant buzz and positively impacts brand value, its full potential is still unfolding, presenting brands with a promising opportunity.

For example, in our latest research among IT decision-makers, AI leadership and expertise emerge as the single most important factor driving consideration for IT consulting and digital transformation players. This data indicates that being perceived as an AI-related brand will likely fuel future growth, whether the brand is an innovator, implementing new technology, or simply communicating its views on AI."

Laurence Newell, Managing Director, Brand Finance North America

The impact of AI on brand value extends beyond the technology sector, driving brand value growth across various industries in the Brand Finance US 500 2024 ranking. Johnson & Johnson (brand value up 5% to USD 13.4 billion) uses AI in drug discovery, employing image recognition technology to analyze microscopic compounds, thereby accelerating research and development efforts for various diseases. Financial institutions like Ally (brand value up 31% to USD 2.8 billion) have incorporated AI-powered chatbots into their mobile platforms to provide personalized customer assistance, while companies like American Express (brand value up 7% to USD 36.5 billion) and Bloomberg (brand value up 22% to USD 7.1 billion) have implemented AI programs to streamline internal processes and improve decision-making.

America's continued dominance in the technology sector is exemplified by Apple regaining its position as the most valuable brand, both in the United States and globally. With an exceptional brand value growth of USD 219.1 billion (a 74% increase) to USD 516.6 billion, Apple has grown its brand value through strategic diversification and premiumization, moving away from heavy reliance on iPhone sales towards ventures into wearables and services such as Apple TV subscriptions. According to our research, more than 50% of respondents recognized Apple as expensive, but worth the price, reinforcing the brand’s ability to demand a price premium.

Brand Finance’s research finds that Apple’s brand remains strong, with a brand strength index score of 86.5 out of 100. Apple is one of the world’s most recognized brands, illustrated by its high brand awareness, averaging 96% across the 17 countries researched by Brand Finance. In the US, Apple’s home market and biggest in terms of revenue, the brand ranks highest among tech brands in perceptions of product quality.


Note to Editors

Every year, leading brand valuation consultancy Brand Finance puts 6,000 of the biggest brands to the test, and publishes over 100 reports, ranking brands across all sectors and countries. The top 500 most valuable and strongest US brands are included in the Brand Finance US 500 2024 Report.

Brand value is understood as the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors.

The full ranking, additional insights, charts, more information about the methodology, and definitions of key terms are available in the Brand Finance US 500 2024 Report.

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Media Contacts

Florina Cormack-Loyd
Communications Director - North America
Brand Finance

About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.

Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on over 5,000 brands, surveying more than 150,000 respondents across 38 countries and 31 industry sectors. Combining perceptual data from the Global Brand Equity Monitor with data from its valuation database enables Brand Finance to arm brand leaders with the data and analytics they need to enhance brand and business value.

Brand Finance is a regulated accountancy firm, leading the standardization of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.

Definition of Brand

Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.

Brand Strength

Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.

Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.

Brand Valuation Approach

Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.

The steps in this process are as follows:

1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.

2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.

3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.

4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.

5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.

6 Apply the royalty rate to the forecast revenues to derive brand revenues.

7 Discount post-tax brand revenues to a net present value which equals the brand value.


Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.

The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.

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