Microsoft shares were down 0.4 per cent at USD 543.25, while Nvidia plunged more than 6 per cent to around USD 167.11 at the time of writing. The sharp decline pushed Nvidia below Microsoft in the global market-cap rankings.Microsoft overtook Nvidia as the world's second-most valuable company on Tuesday as the chipmaker's shares tumbled amid renewed uncertainty over the outlook for artificial intelligence and reports of an investigation involving Nvidia CEO Jensen Huang.Microsoft shares were down 0.4 per cent at USD 543.25, while Nvidia plunged more than 6 per cent to around USD 167.11 at the time of writing.
The sharp decline pushed Nvidia below Microsoft in the global market-cap rankings.Nvidia's fall came as investors weighed concerns surrounding the sustainability of the AI boom and scrutiny over Huang, whose leadership has been closely tied to the company's explosive growth. The development marks a notable shift in the AI-driven stock market rally.
Nvidia had surged to become one of the world’s most valuable companies on demand for its chips, which power many of the data centres behind the generative AI boom.HUANG CONTROVERSY ADDS TO PRESSUREThe latest pressure on Nvidia also comes amid an investigation into whether Huang was the target of a foreign intelligence effort, adding another layer of uncertainty around the chipmaker. Microsoft, meanwhile, has continued to benefit from investor confidence in its cloud and AI businesses, helping its market value hold up better than Nvidia's during Tuesday's sell-off.Nvidia's shares were still trading at around USD 167.11 as of the latest available data, while Microsoft remained at roughly USD 543.25 per share.
This is a developing story. It will be updated.- Ends