Consulting Giant Surges on AI Momentum... Market Cap Rises by Nearly $10 Billion in a Day

Accenture PLC (NYSE: ACN) surged 5.73% to close at $188.62 on May 29, boosting its market capitalization by about $7 billion (roughly ₩9.6 trillion) in a single day. Trading volume reached approximately 4.74 million shares, well above the norm, and the company’s total market cap now sits at around $115.8 billion (₩157 trillion).

Analysts point to several drivers behind the sharp rise: the announcement of a joint venture with Mitsubishi Chemical to develop an AI-based digital platform, the finalization of a $1.4 billion contract to modernize IT services for the U.S. Army Corps of Engineers, and increased stake purchases by major pension funds and institutional investors.

Headquartered in Dublin, Ireland, Accenture is a global consulting and IT services firm that executes digital-transformation projects for large enterprises and public-sector organizations across strategy, consulting, cloud, and operations. Recently, the company has been growing its AI and data business—through moves such as acquiring generative-AI and network-intelligence firm Ukla—while undergoing valuation recalibrations amid slowing growth and intensifying AI competition.