NVDA stiger, AMD fortsætter faldet efter Musk siger SpaceX vil bygge 'eksklusivt' med Nvidia

Nvidia NVDA shares rose in premarket trading on Wednesday after Elon Musk revealed during SpaceX's earnings call that the company would build its future artificial intelligence infrastructure exclusively with Nvidia.

Nvidia stock gained about 2% ahead of the opening bell, even as several semiconductor peers traded lower.

Intel fell about 2%, while Broadcom and Marvell Technology slipped between 0.5% and over 1%, respectively.

The comments also intensified selling pressure on AMD, whose shares dropped roughly 9% in premarket trading despite reporting quarterly revenue and profit that exceeded Wall Street expectations.

Investors focused instead on management's outlook, which offered limited upside for a stock that had been one of the biggest beneficiaries of optimism surrounding AI infrastructure spending, with Musk's comments at Nvidia exacerbating the decline.

Musk bakker op om Nvidia til fremtidig AI-udbygning

Under indtjeningsopkaldet slog Musk fast, at SpaceX fremover havde valgt Nvidia som sin eksklusive partner for AI-infrastruktur.

"Fremadrettet har vi besluttet at bygge eksklusivt på Nvidia, fordi vi mener, at Vera Rubin-arkitekturen er den bedste arkitektur. Vi mener, det er den bedste AI-computer, og vi sætter stor pris på vores tætte samarbejde og partnerskab på mange niveauer med Nvidia. Vi er eksklusive over for Nvidia," sagde Musk.

Han tilføjede, at SpaceXs udrulning af beregningskapacitet ville fortsætte med at udvide sig hurtigt og kvantificerede dermed den stigende efterspørgsel efter Nvidia.

"Vores effektivitet i udrulning af beregningskapacitet er, tror jeg, også højest. Vi forventer at slutte dette år med over two gigawatts of compute. Probably our cumulative compute online by the end of next year will be several times higher."

"It may, let's say, be closer to 10 gigawatts of compute than five gigawatts of compute, as a way to think about it."

Senere i opkaldet angav Musk også, at Nvidia ville forblive en nøgleleverandør for selskabets fremtidige udvidelse.

"Vores forståelse med NVIDIA er, at vi vil modtage en meget betydelig procentdel af deres GPUs næste år."

Udtalelserne styrkede Nvidias position i centrum af AI-infrastrukturboomet, hvor efterspørgslen efter dets seneste generations AI-systemer fortsat overstiger udbuddet.

Cramer: Musks udtalelse overskygger AMDs fremragende regnskab

Musks tilslutning kommer på et afgørende tidspunkt for AMD.

I maj havde Musk sagt, at han forventede, at Tesla og xAI ville fortsætte med at købe chips fra halvledergiganterne Nvidia
og AMD, og muligvis også andre.

xAI er en del af SpaceX.

Desuden havde AMD for nylig fremhævet, at otte af verdens top 10 AI-virksomheder kørte workloads på dets Instinct GPU-platform, herunder OpenAI, Cohere og SpaceXAI, som opererer inden for SpaceX.

Markedskommentatorer var hurtige til at drage konklusioner og kaldte det et reelt tab af forretning for AMD.

"Musk going all in Nvidia... 'We think it's the best AI computer and we greatly value our close cooperation and partnership on many levels with Nvidia. So we're exclusive to Nvidia...' why the stock ran after the bell," CNBC host Jim Cramer wrote on X.

He later added: "If Elon hadn't gone all in Nvidia with what could be the biggest set of orders in the history of Nvidia then AMD's stock would have been up last night. The loss of that business overshadowed ANOTHER MONSTER quarter from Lisa Su."

Opbakning til Nvidia, men AMD vokser stadig hurtigt

Selvom opbakningen er et stort boost for Nvidia, afskriver den ikke AMDs hurtige fremgang som udfordrer til AI-giganten.

AMD har løbende udvidet sin AI-forretning det seneste år i et forsøg på at udfordre Nvidias greb om datacenter-GPU-markedet.

Lisa Su sagde, at datacenter-salget forventes at mere end fordobles i 2027 og forudså omsætningsvækst over det mere end 35% mål og en årlig indtjening over sit mål på $20 per aktie, som blev sat på selskabets analytikerdag i 2025.

Prognosen antyder, at AMDs investeringer for at udfordre Nvidias dominans på AI-chips begynder at bære frugt, idet salget af dets datacenterprocessorer accelererede i andet kvartal.

AMD's quarterly data-center revenue more than doubled ​to $6.72 billion, beating expectations of $6.48 billion. It grew 16.3% sequentially from $5.78 billion in the first quarter.

Last month, the company introduced Helios, its first rack-scale AI system, positioning it as a direct competitor to Nvidia's Grace Blackwell and upcoming Vera Rubin platforms.

Microsoft was among the customers announced for the system.

According to the Futurum Group, Nvidia controls more than 95% of the data-center GPU market, while AMD's share stands at roughly 4.5%.

Still, some analysts believe AMD has a lot of room to grow.

"I think there's a serious case in which AMD does great and can get to 20% and 25%. And by the way, this is hundreds of billions of dollars of revenue," Daniel Newman, analyst and CEO of the Futurum Group, said last month.

AMD has also secured several major AI-related agreements this year.

In July, it agreed to supply Anthropic with tens of billions of dollars worth of AI servers powered by up to two gigawatts of MI450 chips beginning in early 2027, while also committing up to $5 billion to invest in the AI startup, subject to deployment milestones.

The company also recently secured up to 2.5 gigawatts of data-center capacity through a deal with Core Scientific, underscoring its ambition to become a larger player in the rapidly expanding AI infrastructure market.