A Texas land company founded during the Wild West era more than a century ago is becoming an unlikely beneficiary of market euphoria over artificial intelligence.
Dallas-based Texas Pacific Land Corp., which employs 100 people, has seen its stock more than triple this year, giving it a market value of almost $40 billion. That's bigger than Halliburton Co., the largest oilfield servicer in North America, and asset manager State Street Corp. It's more than four times the size of American Airlines Group Inc., which is based in nearby Fort Worth and has over 100,000 workers.