Nvidia Jumps 10% as SpaceX Backs Chips for Earth-and-Orbit Data Centers
Updated
Updated · Yahoo Finance · Aug 7
Nvidia Jumps 10% as SpaceX Backs Chips for Earth-and-Orbit Data Centers
3 articles · Updated · Yahoo Finance · Aug 7
Summary
Nvidia shares rose more than 10% for the week, capping a rebound in AI-chip sentiment after last week's selloff over valuation and spending fears.
SpaceX added momentum when Elon Musk said on Tuesday the company will build data centers on Earth and in orbit exclusively with Nvidia chips, using Vera Rubin-based NVL72 systems.
The broader recovery lifted the Philadelphia Semiconductor Index more than 8% over five trading days, signaling traders had turned more constructive on the sector.
The rally came despite a report that Nvidia is testing Rubin Ultra versions with 192GB and 256GB of HBM, below the expected 1TB, as a global memory shortage pressures supply plans.
AMD offered a contrast: its stock fell about 8% after earnings before finishing the week up nearly 2%, though it still leads Nvidia over 12 months with a 180% gain versus 28%.