- Deepwater Asset Management estimates SpaceX now accounts for 5% of NVIDIA‘s revenue, up from 3% last quarter.
- SpaceXAI is already receiving Nvidia’s next-gen Vera CPUs to accelerate agentic-AI workloads behind Grok.
- CEO Elon Musk stated SpaceX will exclusively use Nvidia chips in its AI data centers, citing the “best architecture.”
SpaceX stock rose over 1% late Wednesday after Deepwater Asset Management’s Gene Munster estimated that Elon Musk’s rocket maker now accounts for roughly 5% of Nvidia‘s quarterly revenue. Based on Nvidia‘s $96.2 billion in Q2 revenue, Munster’s estimate implies nearly $4.8 billion linked to SpaceX.
Munster said on X that Nvidia moved SpaceX-related revenue from its ACIE segment into the hyperscaler category. He noted SpaceX has “become an AI hyperscaler with 8GW coming online next year,” similar to Meta and Amazon.
Nvidia CFO Colette Kress named SpaceXAI among the lead partners already receiving Vera CPUs during the earnings call. SpaceXAI will use Vera to accelerate agentic workloads behind Grok, including executing code and processing data.
Nvidia reported adjusted earnings of $2.22 per share on revenue of $96.2 billion, beating estimates. Data-center revenue surged 117% year over year to $89 billion.
CEO Jensen Huang expects fiscal 2028 revenue to grow 70%, despite supply constraints. Musk earlier said that SpaceX would exclusively use Nvidia chips in its AI data centers.
On Stocktwits, retail sentiment for SpaceX stock declined to ‘bearish’ from ‘neutral’ levels. SpaceX stock has fallen 13% over the past three months.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
