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California home to most Fortune 500 companies, beats out Texas and New York

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For the first time in a decade, California is home to the most Fortune 500 companies in the U.S., with a majority of the firms on the state’s list headquartered here in the Bay Area.

The 70th annual ranking by Fortune showed California with 57 companies, as it beat out Texas and New York this year, which tied for second place. They each had a list of 52 Fortune 500 companies.

"California has long been a hub of economic success, and with the world’s recent AI explosion, America’s technology capital is ready to soar to even greater heights," the publication said. Fortune also noted that California came out on top despite the fact that five companies fell off its list this year.

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