Nasdaq futures increased by approximately 0.5% on October 21, 2026, driven by positive performance reports from SpaceX and Super Micro Computer. The market response highlights a renewed investor interest in artificial intelligence stocks.
SpaceX reported its first quarterly profit as a public company, with revenue reaching $14.58 billion, marking a 161% year-over-year increase. Net income for the period was $4.4 billion, compared to a loss of $1.1 billion in the previous year.
The company generated $7.6 billion from AI-related business, representing a ninefold increase compared to the same quarter last year. Capital expenditures for AI reached $16.4 billion, which is more than double the revenue generated from the segment.
Super Micro Computer updated its revenue forecast for the first quarter of fiscal 2027 to a range between $18.5 billion and $19.5 billion. The company also expects gross margins to fall between 12% and 12.5% due to high demand for AI platforms.
Following remarks by Elon Musk on October 20, 2026, regarding a potential combination of SpaceX and Tesla, SpaceX shares rose by approximately 9%. Tesla shares gained between 1.5% and 2% during premarket trading.
Other companies linked to the AI sector, such as Nvidia and AMD, saw their stock prices rise following the reports. Conversely, Netflix shares declined after the company released financial guidance that fell short of expectations.
