Chipmaker AMD (AMD) easily topped Street consensus forecasts on both the top and bottom lines, but reported CapEx spending of $808 million against estimates for just shy of $300 million.
Shares are lower by 9.15% in after-hours trading.
Among those down in concert are Intel (INTC), off 1.5%, and Marvel (MRVL), off 1.2%.
SpaceX (SPCX) reported second-quarter loss per share of $0.09, beating estimates for a loss of $0.24.
Revenue of $7.8 billion was ahead of forecasts for $6.9 billion.
The company continues to hold 18,712 bitcoin.
Read more: SpaceX tops Wall Street revenue forecast, posts $540 million loss on bitcoin holdings
Shares are little changed after-hours, but rose 9.4% during the regular session on Tuesday to $125.33.
Helping the shares today was a general market melt-up, with the Nasdaq rising 2.6%. More specifically to SpaceX, the company announced a partnership with Nvidia to design the Starmind space data center.
Roughly two hours before the close of trade on Tuesday, stocks are at session highs, led by the Nasdaq’s 2.7% gain. The S&P 500 and DJIA are up just shy of 2%.
Setting off today’s move was a major decline in oil prices, driven by optimism about yet another deal to end the war in the Middle East.
Really, though, the gains are a continuation of the furious rally from what’s looking like an epic bottom hit last week. That denouement of the price collapse of the AI infrastructure trade was enough to blow up Leopold Aschenbrenner’s Situational Awareness fund and allow Ken Griffin’s Citadel to swoop in and purchase Situational’s positions at a discount.
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