Silicon Valley’s giants crowd the list of the world’s most valuable companies, but drugmaker Eli Lilly is hot on their heels. The company topped a market capitalization of one trillion dollars on Friday, becoming the first business in the health industry to hit that milestone.

Lilly’s achievement comes during a tense week for stock watchers. AI chipmaker Nvidia, which itself became the first $5 trillion company less than a month ago, beat expectations with its latest quarterly earnings. But with AI overrepresented among the world’s top businesses and massive AI investments making headlines every day, investors remain skittish that excitement over the tech might be overblown.

While Lilly still sits just outside the global top ten most valuable companies, its rise demonstrates that non-tec

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