SpaceX's AI compute boom lifts chip stocks after blowout earnings
SpaceX's third-quarter revenue rose 161% to $14.58 billion, beating estimates, as AI revenue jumped to $7.56 billion, mostly from renting data center capacity to Anthropic, Google and Reflection AI. Musk told investors SpaceX could rent out its compute "several times over," a demand signal that lifted Nvidia, Intel and other AI infrastructure stocks Wednesday after a steep October sell-off. SpaceX shares rose about 9%.
Source: Axios