Microsoft overtakes Nvidia for second spot in global market cap after Nvidia slides
Microsoft reclaimed the world’s second-largest market valuation on Nov. 10, 2026, as Nvidia’s shares fell more than 6%, driven by AI demand concerns and a board-initiated investigation.
Microsoft regained its position as the world’s second-most valuable public company on Nov. 10, 2026, after Nvidia’s shares dropped more than 6% to about $167.11. Microsoft’s stock was down 0.4% at $543.25 during the session, according to Reuters.
Analysts said Nvidia’s market value is heavily linked to expectations of continued AI-chip demand from cloud providers. Any doubts about the pace of that spending can quickly reshape the stock’s valuation.
The sell-off followed a board announcement on Nov. 8 that an independent committee, supported by outside counsel, would investigate allegations that CEO Jensen Huang had ties to a Chinese business executive described by U.S. intelligence as an information-gathering asset. The Associated Press reported the claims remain unverified.
Nvidia’s board stated it sees no evidence that U.S. national security or company secrets were compromised, expressed confidence in Huang and his leadership team, and noted Huang is cooperating with the review.
Market observers highlighted that shifts of this magnitude can alter mega-cap rankings in a single trading day, underscoring the influence of investor sentiment. Future AI spending trends, earnings guidance and the outcome of the investigation will be key factors in determining whether the ranking change endures.