... by just looking at overall stock value you're being silly.
Point in case: Shut down the ultra-specialists in Germany, Netherlands or France and global chip production comes to a grinding halt. These companies build devices and technology that others are flat-out incapable of reproducing without significant time and effort going into ultra-high-tech R&D.
Another example: Airbus is basically by-and-large a Euro-Government project. If you just look at market cap they may seem unspectacular but right now they're the only ones building passenger jet aircraft with good quality. Nobody in their right mind would claim that Boeing is at the same level right now, no matter how high their market cap might rise next week due to somebody moving bazillions of cash into their stock. Same with AI. Sure, the big AI companies are quite often based in the US of A, but look at cutting-edge specialized work with FOSS LLMs and suddenly some provincial university in a mid-sized German town is leading the way in that field.
I could go on but I think you know what I'm getting at. Proficiency in tech and leading high-tech certainly isn't only measured in gross stock-value. QED.