Quick Read – SpaceX crowned NVIDIA exclusive chip supplier for Starmind, sending NVDL up 7% while SPCQ surged 21% on SpaceX’s massive capex-driven selloff. – AMD dropped 7% despite record revenue up 50% and data center sales doubling, losing the Starmind chip socket entirely to…
IDIA. – A single catalyst is doing the sorting in the AI hardware trade today. SpaceX (NASDAQ:SPCX) released its first quarterly report since its June 2026 IPO after the close on August 4, and although the top-line numbers beat expectations, investors focused on the eye-watering pace of AI capital spending
On the same evening, SpaceX named NVIDIA (NASDAQ:NVDA) its exclusive AI chip supplier for its new Starmind orbital compute program, with Elon Musk calling NVIDIA’s Vera Rubin architecture the best available. That one storyline is powering today’s two headline ETF movers in opposite directions, while AMD (NASDAQ:AMD), which lost out to NVIDIA, trades lower. Defiance Daily Target 2X Short SpaceX ETF (SPCQ) Defiance Daily Target 2X Short SpaceX ETF (CBOE:SPCQ) is the standout of the session, up 21.03% intraday to $24.83.
The fund seeks daily 2x inverse exposure to SpaceX common stock, so it rises when the underlying falls, and SPCX is doing exactly that. SPCX is down 8.24% at $115 this session on top of the 8.04% earnings-day slide, even though the company posted revenue of $7.81 billion against a $6.82 billion consensus and a much narrower-than-feared loss of $0.09 per share. _________________________________ What’s Your Number…? __________________________________________ As noted earlier, the problem was underneath the beat. Q2 capital expenditures reached $18.37 billion, of which $15.83 billion went to AI compute infrastructure.