Elon Musk announces SpaceX, NVIDIA partnership, stocks decline

Elon Musk confirmed a partnership between SpaceX and NVIDIA to launch an optimized Vera Rubin system into orbit by 2027. Despite the announcement, both companies' stocks fell. NVIDIA revealed that SpaceXAI will use its new Vera CPU for next-generation AI workloads, extending its architecture into orbital computing. Musk described Vera as the first CPU designed for agents, enhancing AI performance. Vera features 88 NVIDIA-designed Olympus cores and offers memory bandwidth of up to 1.2 TB/s, claiming task completion times up to 1.8 times faster than x86 processors. NVIDIA shares dropped 2.91% to 208.48 dollars, marking a 5.95% decline over the week ahead of its earnings report on August 26. SpaceX shares fell 1.44% to 135 dollars and slipped 0.22% in after-hours trading to 134.70 dollars. The decline in both stocks indicates that Musk's endorsement did not counteract broader market pressures. NVIDIA's stock is affected by concerns over memory costs and export issues in China, while SpaceX shares remain below their IPO price of 135 dollars and peak of 225.64 dollars, recovering from an all-time low of 104.83 dollars on August 3. The stock movements suggest that upcoming earnings and post-IPO volatility are more influential than the partnership announcement.

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