SpaceX Now 5% of Nvidia Revenue, Up From 3% — Munster Says 'Script Has Flipped'
NVDA sits 30% above its 52-week low of $164.07.
Summary
Gene Munster estimates SpaceX now accounts for about 5% of Nvidia's revenue, up from roughly 3% last quarter, implying ~$4.8B in Q2 sales. Nvidia's filing moved one customer into its largest cloud-and-internet group after a business-model change, and Munster identifies that customer as SpaceX. The reclassification shifts growth optics: had SpaceX stayed in the ACIE group, that segment would have grown 160% y/y vs. the 130% expected, while hyperscaler growth would have been 83%, matching expectations. This follows Nvidia's Q2 report showing revenue doubled to $96.2B with data center up 117%. The news highlights SpaceX's growing role as a hyperscaler and Nvidia's deepening ties to Musk's AI infrastructure buildout.
At the time of this announcement, NVDA was trading at $213.62 on NASDAQ in the Technology sector, with a market capitalization of approximately $5.2T. 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 7 out of 10. Source: Benzinga.