SpaceX CEO Elon Musk has declared that his company will exclusively use Nvidia’s AI chips, a major endorsement that boosted Nvidia’s stock. Musk lauded Nvidia’s upcoming Vera Rubin chip architecture as the ‘best,’ signaling a strong commitment to the technology.
This declaration during SpaceX’s first earnings call strengthens Nvidia’s position in the AI market and could influence other industry players.
Nvidia's Stock Soars on Elon Musk's High-Profile AI Chip Endorsement
Summary: SpaceX CEO Elon Musk has announced that his company will exclusively utilize Nvidia's AI chips for its operations, a significant endorsement that sent Nvidia's stock higher. Musk specifically praised Nvidia's upcoming Vera Rubin chip architecture as the 'best,' signaling a strong commitment to the chipmaker's technology.
Details: Nvidia's stock experienced a notable surge, breaking a trend of broader chip sector weakness, as it marked its fifth consecutive day of gains. This positive momentum is largely attributed to a powerful endorsement from SpaceX CEO Elon Musk during the company's first-ever earnings call. Musk declared that SpaceX has "decided to build exclusively on Nvidia" moving forward, specifically highlighting Nvidia's forthcoming Vera Rubin chip architecture as superior.
The statement comes as a significant boost for Nvidia, reinforcing its dominant position in the AI hardware market. Musk's public declaration is expected to influence other companies in the tech industry, potentially leading to further demand for Nvidia's cutting-edge AI solutions. The exclusive commitment from a high-profile company like SpaceX underscores the critical role Nvidia plays in the advancement of artificial intelligence technologies.
SpaceX CEO Elon Musk (left) stated his company will exclusively use chips from Nvidia, led by Jensen Huang (right). Photo: Getty Images
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