Microsoft Surpasses Nvidia to Become World's Second-Most Valuable Company
Microsoft has overtaken US chipmaker Nvidia to become the world's second-most valuable company following a major stock market decline. This is the first time the Windows maker has surpassed Nvidia since June 2023.
During trading on Tuesday (November 10), Nvidia's share price fell by more than 6 percent to $167.11 per share.
Meanwhile, Microsoft's share price declined slightly, by 0.4 percent, to $543.25. As a result, Microsoft's market capitalization rose to approximately $4.03 trillion, while Nvidia's valuation fell to around $4.02 trillion.
Reasons Behind the Decline and Market Volatility
Uncertainty in the market over the future growth prospects of the AI sector increased selling pressure on stocks. In addition, investor concerns intensified the decline in Nvidia's share price following reports of an investigation into whether the company's CEO, Jensen Huang, had been under surveillance or targeted by a foreign intelligence agency.
Meanwhile, Apple currently leads the global technology company rankings, with a market capitalization of more than $5.06 trillion.
//DBTech/BMT/OR//
