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Ranked: The Top-Performing Sectors Since ChatGPT Launched

2025-12-09 02:10:19

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Graphic showing the top-performing sectors since ChatGPT's Launch

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The Top-Performing Sectors Since ChatGPT Launched

See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Key Takeaways

  • Tech-related sectors have dramatically outperformed the broader market since ChatGPT’s debut, driven by an AI-led investment boom.
  • Nvidia, Broadcom, and other semiconductor-linked firms have seen extraordinary returns, reflecting soaring demand for AI infrastructure.

The launch of ChatGPT in late 2022 set off one of the most intense technology investment cycles in decades. Investors shifted capital toward companies and sectors positioned to benefit from AI infrastructure, cloud computing, and digital services.

This visualization highlights how each major U.S. equity sector performed from ChatGPT’s debut on November 30, 2022. Nvidia, for instance, climbed over 1,000% as demand for its AI-focused chips skyrocketed.

The data for this visualization comes from Deutsche Bank.

The AI Boom Rewired Market Leadership

Communication Services led all sectors with a 185% return, powered by Meta’s nearly fivefold increase. Information Technology followed at 157%, boosted by chipmakers and cloud providers essential to AI development.

Rank Sector Returns (2022-2025)
1 Communication Services 185%
2 Information Technology 157%
3 Consumer Discretionary 78%
4 Industrials 60%
5 Financials 56%
6 Utilities 42%
7 Healthcare 23%
8 Real Estate 21%
9 Consumer Staples 20%
10 Materials 17%
11 Energy 9%
-- S&P 500 80%

Consumer Discretionary also outperformed, helped by digital-first platforms benefiting indirectly from AI-enabled efficiency gains. Together, these results show how the AI wave extended beyond semiconductors to reshape several adjacent industries.

Nvidia and Broadcom Stand Out as Market Outliers

No companies gained more from the AI surge than semiconductor leaders.

Nvidia returned roughly 1,020%, the single largest increase among major U.S. firms. Broadcom rose over 700%, reflecting its dominance in custom AI accelerators and networking hardware. Western Digital and Meta also delivered exceptional returns, nearing or exceeding 500%.

Traditional Defensive Sectors Lagged Behind

While tech surged, defensive and rate-sensitive sectors grew at a much slower pace.

Utilities returned 42%, healthcare 23%, and consumer staples 20%. Materials hovered near the bottom due to higher interest rates and slower industrial demand. Energy posted just 9%, reflecting weaker commodity dynamics. Meanwhile, the S&P 500 returned 80% over the same period.

Learn More on the Voronoi App

If you enjoyed today’s post, check out Ranked: The Top Factors That Build AI Trust on Voronoi, the new app from Visual Capitalist.

Mapped: The Biggest Housing Bubble Risks Globally

2025-12-09 00:47:00

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The following content is sponsored by Terzo

Mapped: The Biggest Housing Bubble Risks Globally

Key Takeaways

  • Miami has the highest housing bubble risk in 2025, driven by an extreme price-to-rent gap.
  • Tokyo and Zurich also show high risk due to investor demand and low financing costs.

Which housing markets could be headed for a correction? In cities like Miami, Zurich, and Tokyo, real estate prices are pushing past what local incomes and rents can justify. Amid these high prices, investors are watching closely for signs of instability.

This graphic, created in partnership with Terzo, shows the level of housing bubble risk for major cities globally. It’s part of our Markets in a Minute series, which features quick economic insights for executives.

What is a Real Estate Bubble?

A “bubble” is a large and long-term mispricing of an asset, which can only be identified in hindsight when the bubble bursts and prices plummet. 

UBS examined five factors to gauge bubble risks:

  • Home prices outpace local incomes
  • Home prices rise faster than rents
  • Mortgage lending expands too quickly
  • Construction activity surges
  • City prices far exceed national averages

These factors are correlated with previous housing bubbles and help determine risk levels, but they cannot predict if or when a correction will happen.

The Top Bubble Risks, Ranked

UBS analyzed 21 select cities globally. Miami has the highest bubble risk score. Although price growth has slowed, its price-to-rent ratio is now above 2006 bubble–era levels. 

Rank City Bubble Risk Category Bubble Risk Score
1 Miami High 1.7
2 Tokyo High 1.6
3 Zurich High 1.6
4 Los Angeles Elevated 1.1
5 Dubai Elevated 1.1
6 Amsterdam Elevated 1.1
7 Geneva Elevated 1.1
8 Toronto Moderate 0.8
9 Sydney Moderate 0.8
10 Madrid Moderate 0.8
11 Frankfurt Moderate 0.8
12 Vancouver Moderate 0.8
13 Munich Moderate 0.6
14 Singapore Moderate 0.6
15 Hong Kong Low 0.4
16 London Low 0.3
17 San Francisco Low 0.3
18 New York Low 0.3
19 Paris Low 0.3
20 Milan Low 0.0
21 São Paulo Low -0.1

Source: UBS, data collected through Aug. 28, 2025.

Tokyo follows closely, driven by persistent price increases despite only modest rent and income gains. 

Zurich rounds out the top three, with property values rising five times faster than incomes over the past decade. The city now has the world’s highest price-to-rent multiple—it would take 43 years of rent to buy an apartment of the same size. 

While these cities remain magnets for investment and migration, affordability is stretched thin. In Tokyo and Zurich, sustained investor demand and low financing costs have fueled further appreciation.

Year-Over-Year Shifts

Some cities have seen notable shifts in risk. Toronto and Hong Kong had the biggest declines in their risk scores, thanks to declining real prices and tighter regulations. 

On the other hand, Dubai and Madrid climbed the ranks. Dubai, in particular, has experienced a sharp price rebound alongside robust rent growth. Because prices are still affordable relative to other major global cities, optimistic investors are hoping for strong future returns.

Why Housing Bubble Risks Matter

For executives and asset managers, these rankings serve as a warning. In cities with high bubble risk, a price correction could sharply reduce the value of real estate holdings. Investors with concentrated exposure to markets like Miami or Zurich may want to reassess their risk profile.

Likewise, corporate location planning and real estate strategy may need to adapt. As affordability erodes, workforce retention could suffer as employees move to less pricey areas.

Great insights, like these housing bubble risks, start with great data. NirvanAI is an all-in-one AI system that turns your company’s contract data into actionable information.

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Charted: Carbon Emissions by Global Region (2010-2050P)

2025-12-08 23:26:07

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Line charts showing carbon emissions by region from 2010 to 2050P.

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Carbon Emissions by Region 2010-2050P

See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Key Takeaways

  • Carbon emissions are forecast to decline across Europe, North America, and Asia-Pacific between 2024 and 2050.
  • Africa and the Middle East are projected to see emissions rise significantly over the period, as population growth increases energy demand.

By 2050, Europe’s carbon emissions are projected to be 42.9% lower than 2024 levels.

Like Europe, Asia-Pacific, and North America are forecast to see emissions decrease over time as populations shrink and green technologies gain wider adoption.

This graphic shows carbon emission projections by region, based on data from the IEA.

The Global Outlook for Carbon Emissions

Below, we show the forecasted change in carbon emissions across global regions:

Mt CO₂
(in thousands)
2010 2024 2050P Change
2024-2050P
North America 6.5 5.6 5.1 -8.9%
Central & South America 1.2 1.2 1.6 33.3%
Europe 4.7 3.5 2.0 -42.9%
Africa 1.2 1.5 2.2 46.7%
Middle East 1.6 2.3 3.3 43.5%
Asia Pacific 14.4 20.4 19.2 -5.9%

In 2050, global emissions are set to reach 334,000 Mt, decreasing from 34,500 Mt in 2024.

Despite the Asia-Pacific region contributing the highest share of emissions, they are projected to fall by nearly 6% over the next 25 years. China, in particular, has rapidly expanded its EV market, along with driving the lion’s share of global clean energy additions in recent years.

In North America, carbon emissions are set to decrease nearly 9%. Still, this is far from meeting climate goals. Notably, 92% of new U.S. electricity additions in 2025 and 2026 are from clean sources.

In contrast, Africa and the Middle East are projected to see a substantial rise in emissions. With some of the world’s fastest-growing populations, rising energy demand is set to increase emissions by over 40%. However, each region comprises a relatively small share of the global total by 2050.

Learn More on the Voronoi App

To learn more about this topic, check out this graphic on global carbon emissions by sector.

Mapped: The Real Purchasing Power of $100 by U.S. State

2025-12-08 21:02:52

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Mapped: The Real Purchasing Power of $100 by U.S. State

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Mapped: The Real Purchasing Power of $100 by U.S. State

See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Key Takeaways

  • The same amount of cash goes 30% further in Arkansas than it does in California.
  • By looking at the real purchasing power of $100, we can get a sense of how cost of living varies between U.S. states.

Is a dollar in your pocket the same in Albuquerque as it is in New York City?

The face value may be the same, but in reality that dollar just goes further in certain metro areas and states.

Today’s visualization shows the relative value of $100 in each U.S. state. It’s based on data from GOBankingRates, which uses publicly available federal datasets such as those from the U.S. Bureau of Labor Statistics, the U.S. Bureau of Economic Affairs, and the U.S. Census American Consumer Survey to do the calculations.

The Data: State-by-State Purchasing Power

Below you’ll see how far $100 goes in each state.

Included in the dataset is typical home value and annual cost of living to help provide context:

Rank State Real Value of $100 Typical Home Value Annual Cost of Living
1 Arkansas $113.49 $208,734 $37,067
2 Mississippi $112.71 $176,933 $35,580
3 South Dakota $111.91 $302,023 $44,923
4 Oklahoma $111.71 $205,311 $37,697
5 Louisiana $111.66 $198,094 $36,860
6 North Dakota $111.43 $268,912 $42,925
7 Iowa $111.23 $218,773 $39,069
8 West Virginia $110.23 $163,193 $35,206
9 Kansas $110.04 $225,396 $39,073
10 Alabama $110.03 $222,475 $38,712
11 Montana $109.76 $450,056 $56,763
12 Nebraska $109.62 $257,397 $42,019
13 New Mexico $109.61 $302,570 $55,579
14 Kentucky $109.53 $208,745 $38,817
15 Wyoming $109.15 $349,235 $48,609
16 Idaho $108.58 $452,207 $56,438
17 Missouri $108.24 $246,692 $40,318
18 Ohio $108.19 $229,027 $40,062
19 Indiana $107.82 $238,281 $40,548
20 Tennessee $107.49 $318,006 $44,868
21 Wisconsin $106.90 $307,398 $46,182
22 South Carolina $106.82 $296,068 $44,854
23 North Carolina $105.86 $328,226 $47,494
24 Michigan $105.82 $239,674 $40,628
25 Utah $105.00 $528,156 $61,534
26 Vermont $103.37 $388,319 $53,614
27 Georgia $103.30 $326,933 $41,159
28 Nevada $103.02 $458,436 $57,796
29 Maine $102.90 $387,588 $54,032
30 Texas $102.83 $299,948 $44,989
31 Pennsylvania $102.50 $266,221 $43,345
32 Minnesota $101.58 $335,238 $48,347
33 Illinois $101.15 $270,708 $43,758
34 Delaware $100.75 $380,485 $51,935
35 Virginia $99.25 $398,259 $52,734
36 Arizona $98.90 $433,746 $55,529
37 Colorado $98.62 $552,897 $63,270
38 Alaska $98.29 $379,622 $59,801
39 Rhode Island $98.29 $379,622 $59,801
40 Florida $96.55 $404,924 $53,525
41 Connecticut $96.31 $429,793 $57,885
42 Maryland $96.04 $430,192 $56,244
43 Oregon $95.28 $498,760 $61,654
44 New Hampshire $94.66 $495,860 $61,111
45 New York $92.37 $455,344 $58,146
46 Massachusetts $91.76 $642,213 $75,065
47 Washington $91.44 $603,927 $70,164
48 Hawaii $91.39 $967,396 $103,371
49 New Jersey $91.12 $558,134 $65,337
50 California $87.42 $793,150 $86,408

In Arkansas, $100 actually goes much further than normal, providing $113.49 of real purchasing power.

In California it’s the opposite case, where a hundred-dollar bill is only really worth $87.42. In the case of California and other expensive states, purchasing power is eroded away by the high cost of living, local taxes, and other factors that prevent you from making the most of your money.

High Income ≠ High Purchasing Power

Here’s one interesting takeaway: many of the highest-income states, such as California, New Jersey, Massachusetts, Hawaii, also rank among the worst for real dollar value.

Massachusetts has a six-figure median income, but $100 only buys $92 worth of goods. Meanwhile, Iowa and Kansas have more modest incomes, but a dollar goes almost 25% further than in an expensive state like Massachusetts.

This shows that higher wages in coastal states are partially or completely eaten by cost of living premiums.

The Affordability Belt

Looking at the map, there is a clear “affordability belt” that can be seen visually.

In the Mountain West, Midwest, and South—including Idaho ($108.58), Montana ($109.76), Louisiana ($111.66), Ohio ($108.19), and West Virginia ($110.23)—each dollar goes a little further.

Learn More on the Voronoi App

Where are countries losing purchasing power the fastest? See this visualization on the highest inflation rates by country on Voronoi, the app from Visual Capitalist.

How Urbanization Has Reshaped Asia Over the Last 50 Years

2025-12-08 03:22:47

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Map showing 50 years of urbanization in Asia.

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Mapped: 50 Years of Urbanization in Asia

See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Key Takeaways

  • Asia’s urbanization has been the most dramatic globally, with megacities like Shanghai, Delhi, and Jakarta expanding into vast metropolitan regions housing tens of millions.
  • Much of Central and mountainous Asia remains sparsely built-up.
  • Jakarta and surrounding areas now form one of the world’s largest megacity regions, with more than 30 million residents.

Asia has undergone one of the most significant urban transformations of the last half-century. Cities that were once mid-sized have expanded into megacity regions, with populations rivaling entire countries.

Today, Asia is home to many of the world’s largest metropolitan areas, from Tokyo and Delhi to Shanghai and Dhaka. While coastal corridors and river basins have become densely built-up, large inland regions remain sparsely urbanized, creating a striking contrast across the continent.

The data for this visualization comes from World Population Review.

Asia Dominates the Global Megacity Rankings

Tokyo remains the world’s largest metropolitan area with more than 37 million people, followed closely by Delhi at roughly 35 million. Shanghai, Dhaka, Beijing, and Mumbai all exceed 20 million residents.

City Country Population
Tokyo 🇯🇵 Japan 37,036,200
Delhi 🇮🇳 India 34,665,600
Shanghai 🇨🇳 China 30,482,100
Dhaka 🇧🇩 Bangladesh 24,652,900
Beijing 🇨🇳 China 22,596,500
Mumbai 🇮🇳 India 22,089,000
Osaka 🇯🇵 Japan 18,921,600
Chongqing 🇨🇳 China 18,171,200
Karachi 🇵🇰 Pakistan 18,076,800
Istanbul 🇹🇷 Turkey 16,236,700
Kolkata 🇮🇳 India 15,845,200
Manila 🇵🇭 Philippines 15,230,600
Guangzhou 🇨🇳 China 14,878,700
Lahore 🇵🇰 Pakistan 14,825,800
Tianjin 🇨🇳 China 14,704,100
Bangalore 🇮🇳 India 14,395,400
Shenzhen 🇨🇳 China 13,545,400
Moscow 🇷🇺 Russia 12,737,400
Chennai 🇮🇳 India 12,336,000
Jakarta 🇮🇩 Indonesia 11,634,100
Bangkok 🇹🇭 Thailand 11,391,700
Hyderabad 🇮🇳 India 11,337,900
Nanjing 🇨🇳 China 10,174,900
Seoul 🇰🇷 South Korea 10,025,800
Chengdu 🇨🇳 China 9,998,870
Ho Chi Minh City 🇻🇳 Vietnam 9,816,320
Tehran 🇮🇷 Iran 9,729,740
Nagoya 🇯🇵 Japan 9,534,790
Ahmedabad 🇮🇳 India 9,061,820
Kuala Lumpur 🇲🇾 Malaysia 9,000,280
Wuhan 🇨🇳 China 8,986,480
Hangzhou 🇨🇳 China 8,591,040
Surat 🇮🇳 India 8,581,730
Baghdad 🇮🇶 Iraq 8,141,120
Shenyang 🇨🇳 China 7,974,270
Riyadh 🇸🇦 Saudi Arabia 7,952,860
Foshan 🇨🇳 China 7,817,160
Dongguan 🇨🇳 China 7,772,860
Hong Kong 🇭🇰 Hong Kong 7,768,510

Jakarta and the Rise of Massive Urban Regions

Greater Jakarta now forms one of the world’s largest continuous urban regions, home to over 30 million people. This growth reflects decades of migration toward economic hubs in Indonesia.

Similar patterns appear in China’s Pearl River Delta and across major Indian corridors, where neighboring cities have fused into single metropolitan zones. These megaregions highlight a defining feature of modern Asian development: cities expanding outward until they merge with the next.

The Indo-Gangetic Plain Becomes a Continuous Urban Belt

From Lahore to Dhaka, the Indo-Gangetic Plain has evolved into one of the most densely populated urban corridors on Earth.

Cities like Delhi, Kolkata, Dhaka, and Lahore form a nearly unbroken chain of development supported by fertile land and major river systems. In contrast, mountainous regions such as Tibet, the Himalayas, and Central Asia remain lightly urbanized.

Learn More on the Voronoi App

If you enjoyed today’s post, check out Percentage of Arable Land By Country on Voronoi, the new app from Visual Capitalist.

Here’s Where Home Prices Surged the Most in North America (2005–2025)

2025-12-08 01:45:10

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Chart showing the top 25 North American cities with the fastest home price growth between 2005 and 2025.

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North American Cities With the Fastest Home Price Growth

See visuals like this from many other data creators on our Voronoi app. Download it for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Key Takeaways

  • Vancouver, Montreal, and Toronto saw the biggest home price increases, each rising more than 160% over the past 20 years.
  • Southern metros like Dallas, Charlotte, and Denver rank among the fastest-growing U.S. housing markets.
  • Major coastal cities like Los Angeles, San Francisco, and New York saw slower growth but are among the most expensive markets overall.

Home prices across North America have surged over the past two decades, driven by population growth, limited housing supply, and post-pandemic demand.

This infographic shows how average home prices have changed from July 2005 to July 2025 across 25 major North American cities, based on Zillow data compiled by Hanif Bayat.

Where Home Prices Have Risen the Most

On average, home prices across the top 25 cities in North America have risen by 92%, or nearly doubled, between 2005 and 2025.

The table below shows the North American cities where home prices have risen the most:

City Percentage change Avg home price in July 2005 Avg home price in July 2025
Vancouver 175% $306,000 $842,000
Montreal 167% $156,000 $417,000
Toronto 164% $268,000 $709,000
Dallas 139% $154,000 $369,000
Charlotte 134% $166,000 $389,000
Denver 125% $258,000 $581,000
Seattle 119% $343,000 $751,000
Houston 107% $150,000 $311,000
Atlanta 102% $191,000 $385,000
Miami 84% $256,000 $473,000
Tampa 83% $198,000 $361,000
San Francisco 79% $629,000 $1,130,000
Boston 77% $412,000 $731,000
Orlando 76% $222,000 $389,000
Phoenix 75% $256,000 $449,000
Philadelphia 74% $222,000 $387,000
Los Angeles 73% $555,000 $959,000
San Diego 71% $542,000 $926,000
Inland Empire* 66% $353,000 $585,000
Detroit 66% $162,000 $269,000
New York 59% $447,000 $713,000
Minneapolis 53% $255,000 $391,000
Baltimore 45% $278,000 $404,000
Washington 41% $414,000 $585,000
Chicago 41% $246,000 $346,000

*Inland Empire refers to Riverside-San Bernardino-Ontario, California metro area.

The top three fastest-appreciating cities are all in Canada. Vancouver leads with a 175% increase since 2005, followed by Montreal at 167% and Toronto with a 165% rise.

Canada’s big metros have experienced rapid population growth and strong foreign-buyer interest, combining to create some of the world’s hottest real estate markets. Vancouver and Toronto, in particular, have faced long-term housing shortages and rank among America’s least affordable housing markets.

In the United States, cities in the Sunbelt region in the South have seen their home prices more than double since 2005. These include Dallas (140%), Charlotte (134%), and Denver (125%), followed by Seattle (119%), which is the only more northern metro among the top five U.S. cities.

Houston and Atlanta have also seen strong growth in home prices, along with Miami and Tampa in Florida.

Coastal Cities Show Slower Home Price Growth

Despite being the three most expensive housing markets, major coastal cities like San Francisco (80%), Los Angeles (73%), and San Diego (71%) show relatively slower growth in home prices. On the East Coast, prices in New York have also grown moderately, rising 60% over the last two decades.

These coastal metros were already expensive in 2005, leaving less room for percentage-based appreciation as compared to Southern cities like Dallas and Houston.

Meanwhile, among the top 25 cities, home prices have grown slowest in Washington, D.C. and Chicago, rising 41% between 2005 and 2025.

Learn More on the Voronoi App

To learn more about this topic from a global perspective, see Home Prices and Rent Changes Around the World on Voronoi.