SpaceX reported a strong public-market debut, with revenue rising 92% to US$7.8 billion and exceeding expectations. However, shares fell 13% after management projected significantly higher capital expenditure of US$18.4 billion, highlighting near-term investment needs. Elon Musk’s confirmation that SpaceX’s AI infrastructure will rely exclusively on Nvidia chips further reinforced confidence in Nvidia. Broader markets were mixed, as the Dow reached a record high while the S&P 500 and Nasdaq pulled back after recent gains.