Elon Musk Backs Nvidia Over AMD for SpaceX AI Infrastructure

**Implied Volatility / Movement:**

SpaceX's decision to exclusively utilize Nvidia hardware for its artificial intelligence infrastructure, as announced by Elon Musk during the company's first earnings call, highlights the ongoing demand for advanced AI chips. While major cloud providers and AI developers like Amazon, Alphabet, Microsoft, Oracle, Meta Platforms, Anthropic, and OpenAI are diversifying their chip procurement due to tight supply and specific workload needs, Musk's clear endorsement of Nvidia suggests continued market leadership for the chip giant. Advanced Micro Devices ($AMD+WL) is also actively competing with its MI300 systems and upcoming MI400 accelerators.

### Story Arc / How We Got Here On Friday, September 4, 2026, Nvidia (NASDAQ: NVDA) shares were noted for their year-to-date performance, showing a 22% increase. This period reflected a more measured growth compared to prior years, with analysts closely examining the sustainability of AI infrastructure investments. The market continues to monitor Nvidia's trajectory amidst shifting market dynamics. Investors were advised to watch Nvidia for potential support testing or consolidation around its moving averages, given its RSI of 46 suggested room for movement. Prior coverage can be found at /explore/nvidia-nvda-stock-performance-shares-up-22-ytd.

### Money Play * Investors prioritizing AI infrastructure build-outs may continue to monitor Nvidia (NASDAQ: NVDA) for sustained demand, particularly following strong endorsements from key figures like Elon Musk. * With major cloud providers diversifying chip suppliers, investors seeking broader AI exposure might examine companies like Microsoft (NASDAQ: MSFT) and Alphabet (NASDAQ: GOOGL) as they integrate solutions from both Nvidia and $AMD+WL.

### Session Tape — WEEKEND * Nvidia (NVDA): -0.03% * Advanced Micro Devices ($AMD+WL): +2.49% * SpaceX (SPCX): +2.0% * Apple (AAPL): +1.7% * S&P 500: +0.9% * Dow Jones Industrial Average (DJI): +1.0% * Nasdaq Composite (NASDAQ): +1.0% * Bitcoin: -0.3%

## Catalyst Analysis: Executive Statement Elon Musk's explicit declaration of SpaceX's exclusive partnership with Nvidia for AI infrastructure marks a significant statement of confidence in Nvidia's technology amidst a competitive landscape. This endorsement underscores Nvidia's current stronghold in supplying high-demand AI chips, even as other major tech players opt for a multi-vendor strategy to mitigate supply constraints and optimize for diverse computational tasks.

## $NVDA+WL Technical Analysis & Key Risk Watch

Nvidia (NASDAQ: NVDA) is trading at $230.36, up 0.84% on the day. The stock is above its 50-day moving average of $210.57 and its 200-day moving average of $196.68, with an RSI14 of 53.7. Key levels to watch include resistance at $230.40 and $234.76, and support at $229.63 and $223.71. The current volume is 1.06x its 20-day average.

## Impact on [Related Tickers] While SpaceX's decision focuses on Nvidia, the broader trend of AI infrastructure build-out continues to see major cloud providers like Microsoft ($MSFT+WL) and Alphabet ($GOOGL+WL) integrating chips from both Nvidia and $AMD+WL. This dynamic suggests that while Nvidia may benefit from exclusive partnerships, companies diversifying their supply chains are also poised to leverage the advancements from multiple hardware vendors.