Good evening, you're listening to Markets Desk.
Advanced Micro Devices delivered a record quarter, with revenue climbing fifty percent year over year to eleven point five billion dollars, and its data center business doubling to six point seven billion. But the stock fell nine percent, because Wall Street is focused on what that growth costs — margins are under pressure as AMD ramps spending to chase the AI infrastructure buildout.
That spending theme runs straight through Amazon, where CEO Andy Jassy confirmed the company is raising its two thousand twenty six capital expenditure budget to two hundred twenty billion dollars. For AI investors, that number is a signal of conviction — Amazon is betting enormous sums that cloud and AI infrastructure demand will justify the outlay, and Jassy's language on the earnings call suggested there is no hesitation at the top.
Meanwhile, Elon Musk made his boldest predictions yet on SpaceX's first-ever earnings call, telling investors annual revenue could reach one trillion dollars by two thousand thirty — a year ahead of his previous forecast. He also drew laughs comparing rocket manufacturing to data center construction, calling the latter relatively straightforward. The call was notable simply for happening at all, as SpaceX has long operated without public financial disclosure.
That's the tape. Markets Desk, signing off the floor.
