NVDA Rises 2% Premarket on SpaceX Exclusive Deal; Foxconn's July Sales Surge 54.2%

NVDA-4.16%
AMD-10.81%

According to CEO Elon Musk, SpaceX picked Nvidia as its exclusive supplier of AI chips on Wednesday premarket, sending NVDA stock up 2% despite a broader chipmaker selloff. Musk said SpaceX's decision reflected confidence in Nvidia's Vera Rubin architecture, adding "we're exclusive to Nvidia." Shares of AMD, currently SpaceX's chip supplier, fell 8%.

Meanwhile, Nvidia's manufacturing partner Foxconn reported a 54.2% jump in July sales to NT$946.5 billion ($29.3 billion), reflecting sustained demand for AI infrastructure buildout. Foxconn said AI server shipments are expected to maintain momentum this quarter.

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