Related: Loading Big .Obj file about 300 Mb will crash te browser and take much time to load
In general, parsing a format like glTF where the actual geometry data are stored as binary data and not as ASCII text is faster and more memory friendly.
In any event, if you are going to load such big files over the internet, the corresponding transmission latency is a real problem. An option to mitigate this issue is to compress the geometry data (for example with Draco). This will noticeable decrease the file size and thus the loading time but slightly increase the parsing overhead (because of the additional decoding step). However, the overall performance will be much better.
If you want to stick to OBJ for some reason, consider the steps explained here.