Finance

In its inaugural quarterly report since going public in June, SpaceX reported widening net losses of $541 million despite nearly doubling its year-over-year revenue to $7.8 billion. Investor anxiety escalated after management signaled that intensive capital expenditures toward artificial intelligence and satellite infrastructure will continue, causing the stock to tumble over 13%.

Shares of chipmaker Nvidia popped more than 3% following comments from Elon Musk indicating that SpaceX will exclusively rely on Nvidia processors to construct its artificial intelligence computing infrastructure. Nvidia stood out as the primary outperformer among the major technology giants, which otherwise experienced widespread declines during the trading session.

The Walt Disney Co. advanced 3.6% after posting financial results that exceeded Wall Street profit projections, driven primarily by strong domestic theme park traffic and a robust $1 billion box office performance from its latest theatrical release. Booking Holdings similarly capitalized on resilient consumer trends, jumping 6.6% as robust global travel demand bolstered quarterly revenue and earnings growth.