Elon Musk's SPCX Now Accounts for 5% of Nvidia Revenue, Gene Munster Says: 'The Script Has Flipped'
benzinga_article·- Deepwater Asset Management analyst Gene Munster estimates that SpaceX now accounts for approximately 5 % of Nvidia's revenue, totaling about $4.8 billion, as it expands its AI infrastructure to operate as a hyperscaler. - Nvidia reported strong second-quarter financial results with revenue jumping 106 % year-over-year to $96.22 billion, while forecasting third-quarter revenue of about $108 billion. - The integration of SpaceX into Nvidia's largest cloud-and-internet customer group reflects the chipmaker's continued massive demand for AI infrastructure and processors like the Vera Rubin platform.【US Pre-Market】Nvidia Earnings Due Tonight; Software Stocks Fall Broadly as Intuit Tumbles Nearly 12%
TradingKey·- US stock index futures traded mixed in pre-market on August 26 as investors remained cautious ahead of Nvidia's earnings report and core PCE inflation data. - Software stocks fell broadly, with Intuit tumbling nearly 12% due to weak fiscal 2027 guidance and Zoom dropping over 6% despite beating Q2 expectations. - Key market news included Canada announcing retaliatory tariffs on US goods worth approximately C$27.6 billion and SoftBank considering issuing up to $20 billion in bonds.