Finance

In its first quarterly financial report since debuting on the public market, SpaceX disclosed widening losses driven by substantial capital allocations toward artificial intelligence infrastructure. Despite beating revenue expectations, the disclosure of aggressive spending rattled investors, triggering a decline of nearly 14% in the rocket manufacturer's stock.

Nvidia shares jumped over 3% following comments from Elon Musk confirming that SpaceX will exclusively deploy Nvidia processors for its artificial intelligence computing infrastructure. Meanwhile, competitor Advanced Micro Devices experienced a 6.5% drop despite an earnings beat, as the stock failed to satisfy elevated expectations amid a broader semiconductor cooldown.

Bitcoin maintained its position above the $64,000 threshold, displaying resilience even as global risk assets experienced heightened volatility. In contrast, the wider cryptocurrency market remained mixed, characterized by institutional capital rotations and a multi-year low in the Ethereum to Bitcoin ratio.