Microsoft overtook Nvidia as the world’s second-most valuable public company on Nov. 10, 2026, the first time it had done so since June 2025, according to Reuters. Microsoft shares were down 0.4% at $543.25 during the session; Nvidia shares had fallen more than 6% to roughly $167.11.
An AI Valuation Built on Expectations
Nvidia’s valuation reflects expectations of sustained AI-chip demand, expectations one session of doubt can quickly reprice.
Reuters cited uncertainty about the AI outlook as one factor weighing on Nvidia. The company’s valuation is closely tied to expectations that cloud providers will keep buying AI chips at the current pace. That dependency leaves the stock acutely sensitive to any sign that returns on those investments might disappoint.
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https://finance.yahoo.com/markets/stocks/articles/microsoft-tops-nvidia-market-cap-193114512.html
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