Stocks
Nvidia Surges Past $220 as SpaceX Partners on AI Compute Infrastructure
The Dow Jones Industrial Average surpassed the 54,500 resistance line after Nvidia's stock surged past $220 following an announcement from SpaceX. The company revealed it will exclusively use Nvidia processors for its AI compute infrastructure, citing the Vera Rubin architecture.
Elon Musk confirmed the partnership in a statement, which boosted investor confidence in Nvidia's market position and revitalized broader equities.
However, despite beating revenue estimates, SpaceX's stock fell due to concerns over high capital expenditures and upcoming insider lockup expirations.