Musk Says SpaceX Will Use Only Nvidia Chips; Alphabet AI Chief Departs
NVDA sits 35% above its 52-week low of $164.07.
Summary
Elon Musk announced on SpaceX's earnings call that the company will exclusively use Nvidia chips for its AI infrastructure, sending Nvidia shares up over 3% and rival AMD down 7%. This endorsement from a high-profile AI player reinforces Nvidia's dominance in the AI chip market. Separately, Alphabet fell 4% after disclosing that Chief Scientist Jeff Dean is leaving after 27 years to start his own company, raising concerns about leadership stability in its AI division. Both events are fresh and material, directly moving the stocks in after-hours trading.
At the time of this announcement, NVDA was trading at $220.78 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.3T. The 52-week trading range was $164.07 to $236.54. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: CNBC TV18.