SpaceX just delivered a first earnings report that beat across the board. All 3 segments beat. 🔴 SPCX -10% What the market fears is the burn: - Capex hit $18.4B, nearly double Q1's $10.1B, with $15.8B poured into AI compute - Management says the next two quarters will look similar The real winner of the night was NVDA. Musk said on the call that SpaceX is going exclusive to Nvidia, building all its AI compute, on the ground and in orbit, on the Vera Rubin platform. 🟢NVDA +2% While🔴 AMD -8.7%, another double beat. After a 140% run this year, a good quarter wasn't enough. The market wanted a blowout Helios guide and its $13B outlook didn't deliver one.(BloFin Research)