SpaceX’s latest filing shows Q3 revenue leapt 161% from a year earlier, a climb that outpaces the broader tech sector’s growth rate. The company’s AI arm expanded ninefold, underscoring the bullish sentiment around artificial‑intelligence playbooks.
Shares of the rocket‑maker surged 11% in early trade, the largest gain among AI‑focused names. Advanced Micro Devices and Nvidia each rose nearly 2%, while Broadcom added about 1%. The VanEck Semiconductor ETF lifted more than 1%, reflecting a wider rally in the chip space.
In the market‑wide backdrop, the Nasdaq Composite climbed 0.4%, the S&P 500 held flat, and the Dow slipped 0.1%. Tesla shares rose over 2% ahead of its earnings, and Meta Platforms sits on the trading block, its results expected later in the day.
Musk announced that SpaceX and Tesla have formed special committees to explore a potential merger, adding another layer of speculation to the AI narrative. Analysts note that the merger talks could further consolidate the AI supply chain.
Looking ahead, investors will pivot to Tesla’s earnings announcement, slated for release after market close, and Meta’s forecast, which will provide clearer signals on corporate AI spending and the trajectory of U.S. equities.