Nvidia Jumps Nearly 4% After SpaceX Backs Vera Rubin AI Systems
Updated
Updated · CNBC · Aug 5
Nvidia Jumps Nearly 4% After SpaceX Backs Vera Rubin AI Systems
3 articles · Updated · CNBC · Aug 5
Summary
Nvidia rose nearly 4% after Elon Musk said SpaceX will build its AI infrastructure exclusively on Nvidia, calling the Vera Rubin architecture "the best AI computer."
That endorsement strengthened the case that Nvidia still leads AI infrastructure even as major cloud companies push custom chips, according to CNBC Investing Club commentary.
The move came as U.S. stocks broadly advanced, with the S&P 500 and Dow hitting intraday record highs and the three major indexes heading for their best five-day run since April 2025.
Lower oil prices also supported risk appetite after reports the U.S., Iran and Oman were working on a plan to manage ship traffic in the Strait of Hormuz.