Tech stocks today: SpaceX, AMD top quarterly results, but fail to impress Wall Street. Shares sink

LIVE Tech stocks today: SpaceX, AMD top quarterly results, but fail to impress Wall Street. Shares sink Daniel Howley · Technology Editor Updated Wed, August 5, 2026 at 2:30 PM GMT+2 1 min read SPCX AMD NVDA GOOG ORCL SpaceX ( SPCX ) and AMD reported reported better-than-anticipated earnings after the bell on Wednesday, but failed to impress investors sending shares lower. SpaceX reported Q2 revenue of $7.

8 billion versus $6. 81 billion, per Bloomberg consensus, up sequentially from $4. 7 billion in Q1.

But the company said capital expenditures dedicated to AI increased to $15. 8 billion in the quarter. That was more than analysts were projecting and much higher than the $7.

7 billion SpaceX spent in Q1. The concern with SpaceX's large capital requirements — like those of other large AI frontier startups and even Oracle ( ORCL ), Alphabet ( GOOG , GOOGL ), and Meta ( META ) — is that its AI infrastructure investments will not generate a healthy return given the level of cash required. AMD ( AMD ) also reported after the bell, beating Q2 estimates and provided a strong outlook but couldn't meet Wall Steet's lofty expectations.

The stock dropped 8% after-hours. Nvidia will report its results on Aug. 26.

Elsewhere, Amazon's ( AMZN ) market cap topped $3 trillion for the first time on Monday, and Microsoft ( MSFT ) stock continued to climb higher, after posting strong earnings results last week.