Can't say for other industries, but in tech in the US at least (and not just at actual tech companies, but other, more conservative/traditional non-tech companies too), it seems cover letters are not required or expected at all.
I've found many tech companies (including at least some FAANG) don't. At least not until much later in the process. And even then it seems like it's only as a formality.
I've interviewed at one FAANG and the recruiter didn't ask for my resume until after I got rejected lol.
