Microsoft stock rises as Ignite conference spotlights AI growth

Microsoft shares rose over 1% on Thursday, surpassing Nvidia to become the world's second most valuable publicly traded company, with a market value of $3.89 trillion versus Nvidia's $3.88 trillion. The stock gained 1.33% to $528.05 while Nvidia fell 5.46%, amid investor reassessment of AI stocks following Nvidia CEO Jensen Huang's departure. Microsoft's upcoming Ignite conference, scheduled for November 17-20, is seen as a potential catalyst, with analysts expecting focus on Azure and Copilot's evolution into an AI agent platform. Microsoft has committed $117 billion to data center infrastructure this year, and analysts will seek evidence of improved returns on AI investments. The company also faces scrutiny over its spending, though strong Azure revenue growth has maintained investor confidence.