part 2,

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Still, as the saying goes: It’s an ill wind that blows nobody any good. While Musk looked to have sunk SpaceX stock, he boosted Nvidia by announcing his company would exclusively use the chip maker’s hardware. That could help shore up Nvidia against the incursions of fast-growing rivals such as Advanced Micro Devices, shares of which dropped after earnings despite 50% revenue growth. The increased spending is also great news for data-center component companies such as Arista Networks or Astera Labs, which reported huge growth in their own earnings reports Tuesday.

 
The chief message from Big Tech earnings is that no one is dropping out of the spending race, whether shareholders like it or not. Like Meta’s Mark Zuckerberg, Musk is confident he can prove the doubters wrong, eventually—but he faces a struggle to convince investors that SpaceX’s part in the great AI splurge is money well spent.

 
—Adam Clark "