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Data: Axios research. Table: Sara Wise/Axios

Two sets of data for 2020 show Big Tech's split-screen reality of cascading investigations on one side and surging valuations on the other.

Why it matters: Technology companies have never been under more regulatory scrutiny. But it so far hasn't impacted their growth or spooked investors.

Driving the news: Regulators across the country launched five new investigations last month into some of the most high-profile tech giants in the world.

  • The FTC, the Justice Department, Congress and nearly every state attorney general have dived into the business practices of Google, Facebook, Apple and Amazon.
  • CEOs, once elusive and hard to wrangle to Capitol Hill, have made multiple (remote) appearances in 2020, defending their businesses and describing themselves as American success stories.

Meanwhile, Amazon, Google and Facebook's stocks are trading at near-record highs.

  • The Google and Facebook share prices are each up roughly 30% since last January. Amazon's stock is up more than 70%.
  • Investors have rewarded all three companies for high-growth moves during the pandemic, including e-commerce and gaming.
Expand chart
Data: Yahoo! Finance; Chart: Axios Visuals

The bottom line: The dichotomy shows how little regulatory attention matters to Wall Street investors.

Go deeper

Tech scrambles to derail inauguration threats

Illustration: Sarah Grillo/Axios

Tech companies are sharing more information with law enforcement in a frantic effort to prevent violence around the inauguration, after the government was caught flat-footed by the Capitol siege.

Between the lines: Tech knows it will be held accountable for any further violence that turns out to have been planned online if it doesn't act to stop it.

The deplatforming fight shifts to the courts

Illustration: Eniola Odetunde/Axios

The Capitol riot and tech firms' sweeping attempt in its wake to dislodge the online far right are kicking up efforts to have the courts settle knotty questions about online speech and power.

Why it matters: Legal battles could force the people angry at Big Tech to bring more rigor to arguments that have often devolved into messy sideshows.

In photos: D.C. and U.S. states on alert for pre-inauguration violence

National Guard troops stand behind security fencing with the dome of the U.S. Capitol Building behind them, on Jan. 16. Photo: Kent Nishimura / Los Angeles Times via Getty Images

Security has been stepped up in Washington, D.C., and state capitols across the U.S. as authorities brace for potential violence this weekend.

Driving the news: Following the Jan. 6 insurrection at the U.S. Capitol by some supporters of President Trump, the FBI has said there could be armed protests in D.C. and in all 50 state capitols in the run-up to President-elect Joe Biden's inauguration Wednesday.