AMD Stock Falls Despite Record Earnings Amid Nvidia Endorsement
Nvidia's stock gained about 2% after Elon Musk announced that SpaceX will be 'exclusive to Nvidia' for all future AI infrastructure, on Earth and in orbit. This statement came during SpaceX's first earnings call as a public company, where AMD reported its best quarterly earnings in history.
Despite record revenue of $11.5 billion, up 50% year-over-year, and data center sales more than doubling to $6.72 billion, AMD's stock fell 8.94% after-hours to $472.20. Musk stated that SpaceX will be using Nvidia's Vera Rubin architecture for AI computers because it is 'the best architecture'.
The most significant element of this announcement was not the exclusive branding but the orbital deployment plan. Starmind satellites, jointly developed by SpaceX and Nvidia, will carry full NVL72 racks into orbit, each containing 36 Vera CPUs and 72 Rubin GPUs connected via NVLink 6's all-to-all fabric.
Musk acknowledged that launching and connecting this hardware 'could prove more difficult than constructing facilities on Earth' due to the substantial thermal load generated by the NVL72 system. The Starmind satellites are planned to launch in early 2027, with a commercial constellation following.