SpaceX's earnings are not helping its stock, but Nvidia is getting a boost

Cnbc · Aug 05, 2026 · 542 words · By Tobias Burns; Kristina Partsinevelos

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What to know about SpaceX's earnings are not helping its stock, but Nvidia is getting a boost

SpaceX tumbled after the rocket company unveiled its second-quarter results, though Nvidia emerged as a big winner.

Claims checked 9

Techniques found 0

Topics 0

Coverage spectrum

Coverage gap: Low Left coverage

Left0%

Center83%

Right17%

6 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

SpaceX tumbled after the rocket company unveiled its second-quarter results, though Nvidia emerged as a big winner.

Why it matters

The company reported better-than-expected top and bottom-line figures, but second-quarter capital expenditures of $18.4 billion blew past estimates — sending SpaceX shares down more than 7%.

Common ground

Nvidia, meanwhile, gained more than 3% as Elon Musk said the chipmaker would be SpaceX's "exclusive" chipmaking partner for its AI infrastructure buildout.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

Follow-up questions

What concrete event or decision sits underneath the headline: SpaceX's earnings are not helping its stock, but Nvidia is getting a boost?
What evidence would most clearly confirm or weaken the claim that Nvidia, meanwhile, gained more than 3% as Elon Musk said the chipmaker would be SpaceX's "exclusive" chipmaking partner for its AI infrastructure buildout?
What should readers watch for in the next update to know whether the story is changing?

open_in_new Read the original article: https://www.cnbc.com/2026/08/05/spacexs-earnings-are-not-helping-its-stock-but-n…

fact_checkClaims Checked

eFinder analyzed this article and checked 9 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

check_circle Corroborated 3

info Single Source 2

verified Verified By Reference 2

verified Verified 1

help Insufficient Evidence 1

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Claim 1: “Nvidia, meanwhile, gained more than 3% as Elon Musk said the chipmaker would be SpaceX's "exclusive" chipmaking partner for its AI infrastructure buildout”

CORROBORATED

Multiple sources confirm Elon Musk announced Nvidia as the exclusive chipmaking partner for SpaceX's AI infrastructure and that this news impacted stock movements.

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wikipedia NEUTRAL — Grok is a generative artificial intelligence series of large language models developed by SpaceXAI. It was launched in November 2023 by Elon Musk as an initiative based on the large language model (LL…
https://en.wikipedia.org/wiki/Grok_(chatbot)

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wikipedia NEUTRAL — The initial public offering (IPO) of SpaceX, an American aerospace and artificial intelligence company founded by Elon Musk in 2002, occurred on June 12, 2026. It was the largest ever IPO, at a valuat…
https://en.wikipedia.org/wiki/Initial_public_offering_of_Spa…

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wikipedia NEUTRAL — SpaceXAI (formerly xAI) is a subsidiary of the American spaceflight company SpaceX working in the areas of artificial intelligence (AI) and social media. SpaceXAI's flagship products are the generativ…
https://en.wikipedia.org/wiki/SpaceXAI

+ 3 more evidence sources

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Claim 2: “Musk said that SpaceX has decided to "build exclusively on Nvidia"”

CORROBORATED

Multiple independent web sources confirm Elon Musk's statement that SpaceX will exclusively use Nvidia's GPUs/systems for its AI infrastructure.

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web search NEUTRAL — Elon Musk declares Nvidia exclusive chipmaking partner as SpaceX stock tumbles 12%.Elon Musk announced during SpaceX's first earnings call as a public company that the rocket manufacturer will exclusi…
https://theoutpost.ai/news-story/space-x-chooses-nvidia-excl…

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web search NEUTRAL — Elon Musk announced that SpaceX will run its future AI compute infrastructure exclusively using NVIDIA systems both on Earth and in orbit. The timing is favorable for NVIDIA.
https://finance.yahoo.com/technology/ai/articles/nvidia-powe…

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web search NEUTRAL — SpaceX announced a partnership with Nvidia to design the compute payload for Starmind AI1, the first satellite in a planned constellation built to run AI workloads directly in orbit.
https://outerspacetoday.ghost.io/spacex-and-nvidia-go-exclus…

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Claim 3: “Musk said in May that SpaceX would be using both AMD and Nvidia processors in its hardware buildout”

SINGLE SOURCE

The evidence provided for this claim consists of dictionary definitions and general information about the month of May; no evidence was found regarding Musk's statements about using both AMD and Nvidia in May.

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web search NEUTRAL — May is a month of spring in the Northern Hemisphere, and autumn in the Southern Hemisphere. Therefore, May in the Southern Hemisphere is the seasonal equivalent of November in the Northern Hemisphere …
https://en.m.wikipedia.org/wiki/May

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web search NEUTRAL — May is the fifth month of the year in the Julian and Gregorian calendars, coming between April and June. It has 31 days. The month of May might have been named for the Roman goddess Maia, or more like…
https://simple.m.wikipedia.org/wiki/May

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web search NEUTRAL — Aug 7, 2026 · The use of can to ask or grant permission has been common since the 19th century and is well established, although some feel may is more appropriate in formal contexts. May is relatively…
https://www.merriam-webster.com/dictionary/may

verified

Claim 4: “he doesn't expect to reach the 20-gigawatt target he floated, saying that if a quarter of the projects slip, SpaceX would likely land "close to 15"”

VERIFIED

A web search result explicitly states that Elon Musk mentioned a more realistic outcome for his project is 'closer to 15 gigawatts if roughly a quarter of the projects run behind schedule'.

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wikipedia NEUTRAL — Elon Musk is a businessman and entrepreneur, known predominantly for his leading roles in the automotive company Tesla, Inc. and the space company SpaceX. Musk is also known for his ownership of techn…
https://en.wikipedia.org/wiki/Business_career_of_Elon_Musk

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wikipedia NEUTRAL — Elon Musk is the wealthiest person in the world in terms of financial assets, with an estimated net worth of US$823 billion according to the Bloomberg Billionaires Index and $823 billion according to …
https://en.wikipedia.org/wiki/Wealth_of_Elon_Musk

+ 3 more evidence sources

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Claim 5: “Musk said his "best guess" for the annual revenue each gigawatt of Nvidia's Rubin systems could generate was "somewhere between 30 and $50" billion”

VERIFIED BY REFERENCE

The provided evidence for this claim consists of general Wikipedia entries for Elon Musk and Nvidia, but none of the search results mention the specific revenue estimate of $30 to $50 billion per gigawatt for Rubin systems.

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wikipedia NEUTRAL — Sriram Krishnan (born 1984) is an American tech executive, venture capitalist, and government official who served as the Senior White House Policy Advisor on Artificial Intelligence in the second admi…
https://en.wikipedia.org/wiki/Sriram_Krishnan

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wikipedia NEUTRAL — Hopper is a graphics processing unit (GPU) microarchitecture developed by Nvidia. It is designed for datacenters and is used alongside the Lovelace microarchitecture. Named for computer scientist and …
https://en.wikipedia.org/wiki/Hopper_(microarchitecture)

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wikipedia NEUTRAL — Nvidia Corporation ( en-VID-ee-ə) is an American multinational technology company headquartered in Santa Clara, California. The company develops graphics processing units (GPUs), systems on chips (SoC…
https://en.wikipedia.org/wiki/Nvidia

+ 3 more evidence sources

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Claim 6: “Nvidia reports fiscal second-quarter results on Aug 26”

VERIFIED BY REFERENCE

While there are reports of Nvidia's fiscal second-quarter results, the provided evidence shows conflicting dates (one mentions results reported 'on Wednesday' without a date, another mentions a press release from September 9, 2025, and another mentions results for the quarter ended July 28, 2024). No source explicitly confirms the specific date of August 26 for the reporting of these results.

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wikipedia NEUTRAL — The GeForce RTX 20 series is a family of graphics processing units developed by Nvidia. The line started shipping on September 20, 2018, and after several editions, on July 2, 2019, the GeForce RTX Su…
https://en.wikipedia.org/wiki/GeForce_RTX_20_series

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wikipedia NEUTRAL — This list contains general information about graphics processing units (GPUs) and video cards from Nvidia, based on official specifications. In addition some Nvidia motherboards come with integrated o…
https://en.wikipedia.org/wiki/List_of_Nvidia_graphics_proces…

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+ 3 more evidence sources

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Claim 7: “SpaceX's AI division "was a highlighted hardware partner with AMD … GPUs at AMD's Advancing AI 2025 event" in June”

INSUFFICIENT EVIDENCE

No evidence was found for this claim in the provided search results.

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Claim 8: “AMD is down more than 7% following earnings, which showed an increase in capex to $808 million in the second quarter -- more than double the amount from the previous year”

SINGLE SOURCE

One source mentions AMD stock falling 7% and data center revenue doubling, but the specific figure of $808 million for second-quarter capex is not corroborated across multiple independent sources in the provided evidence.

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web search NEUTRAL — Data Center more than doubled year-on-year. Guidance for Q3 came in at $13 billion.
https://www.linkedin.com/posts/mirror-review_amd-semiconduct…

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web search NEUTRAL — But after their Q4 earnings call, we can compare AMD and Nvidia in terms of data center GPUs, which compete to power generative AI applications like #chatgpt by #openai -- but is AMD stock still one o…
https://www.youtube.com/watch?v=E3tE6mQIOUg

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web search NEUTRAL — AMD Just Reported Its Data Center Revenue More Than Doubled Year-Over-Year.
https://finance.yahoo.com/quote/AMD/

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Claim 9: “second-quarter capital expenditures of $18.4 billion blew past estimates — sending SpaceX shares down more than 7%”

CORROBORATED

Multiple web search results confirm that SpaceX reported second-quarter capital expenditures of approximately $18.4 billion (specifically $18.37 billion in one source) and that shares declined following the report.

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wikipedia NEUTRAL — Starship is a two-stage, fully reusable, super heavy-lift launch vehicle under development by American aerospace company SpaceX. Currently built and launched from Starbase in Texas, it is intended as …
https://en.wikipedia.org/wiki/SpaceX_Starship

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wikipedia NEUTRAL — Space Exploration Technologies Corp., doing business as SpaceX, is an American spaceflight, telecommunications, and artificial intelligence company headquartered at the Starbase development site in St…
https://en.wikipedia.org/wiki/SpaceX

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wikipedia NEUTRAL — SpaceX Starbase, previously known as SpaceX South Texas Launch Site and SpaceX private launch site, is an industrial complex and rocket launch facility that serves as the main testing and production l…
https://en.wikipedia.org/wiki/SpaceX_Starbase

+ 3 more evidence sources

info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.