Welcome to Markets Desk, your midday read on what's moving the needle.
SpaceX just landed a compute deal worth more than one billion dollars a month with an undisclosed customer, adding to existing agreements with Anthropic and Google. The company is now targeting one hundred billion dollars in annual recurring revenue by year end, a figure that would make its Colossus data center operation one of the most valuable infrastructure plays in the AI build-out.
That AI momentum puts fresh pressure on Qualcomm, which is once again pushing into server chips after its Centriq processor effort collapsed within a year of its twenty seventeen launch. The company dismantled that program by the end of twenty eighteen, and analysts say this second attempt carries far higher stakes given how crowded and unforgiving the data center silicon market has become since then.
On the healthcare side, investors weighing pharmaceutical exposure are parsing the difference between the VanEck Pharmaceutical ETF and the Invesco S-and-P five hundred Equal Weight Health Care ETF. The Invesco vehicle spreads risk across sixty holdings versus just twenty-six for VanEck, a meaningful distinction when regulatory and pipeline risk can move individual drugmakers sharply in either direction.
That's the tape. Markets Desk, signing off the floor.
