Nvidia (NVDA) reported blowout fiscal Q2 results, but under the surface was the budding growth it’s having with a major partner: SpaceX (SPCX).
Nvidia posted revenue of $96.2 billion, up 106% year over year, with Data Center sales of $89.0 billion, up 117%, but the SpaceX angle is tied to guidance and the build-out plans rather than the reported numbers.
CFO Colette Kress told analysts that Nvidia’s next-generation Vera CPU is already shipping to its earliest customers, with SpaceX’s AI unit among the first.
NVIDIA Corporation (NVDA)
“We expect Vera to be deployed by every major hyperscaler, neocloud, AI lab, and system OEM, with shipments already underway to our lead partners, including [Oracle], SpaceXAI, and starting this quarter, [Amazon Web Services],” Kress said during the earnings conference call.
Nvidia does not break out customer-level revenue, so SpaceX’s contribution is built on estimates. Deepwater Asset Management’s Gene Munster broke it down in a post on X:
How significant is SpaceX’s revenue contribution to Nvidia?
What is Nvidia’s Vera CPU and its applications?
How are Nvidia and SpaceX partnering in space?
What drove Nvidia’s record Q2 financial performance?
“$SPCX accounted for about 5% of overall revenue. Last quarter, it was more like 3%. Looks like they moved $SPCX revenue from ACIE [AI, Clouds, Industrials, Enterprise] into Hyperscalers, which makes sense because SPCX is now a hyperscaler with 8GW coming online next year, same as $META and $AMZN.”
Applied to Nvidia’s $96.2 billion in quarterly revenue, that implies nearly $5 billion tied to SpaceX.
SpaceX being seen as a hyperscaler peer to Meta (META) and Amazon (AMZN) is a sign of its deepening interdependence with Nvidia. Alongside the earnings, Nvidia highlighted that SpaceXAI would adopt its Vera CPU to run the agentic workloads behind Grok, xAI’s chatbot, executing code and processing data.
“Vera gives us the CPU performance and memory bandwidth to run enormous amounts of orchestration, code, and data processing while keeping GPUs doing what they do best,” SpaceX and xAI president Mike Nicolls said in a statement.
Earlier this week, the two companies confirmed that a space-optimized Vera Rubin NVL72 rack-scale system for launch aboard SpaceX’s first-generation Starmind satellite will be coming in the fourth quarter of 2027, with a larger scale planned for 2028. The AI1 satellite design carries a 120-kilowatt compute payload, peaking at 150 kilowatts.
For Nvidia, SpaceX is emerging as both a top-tier terrestrial customer and the launch vehicle for putting its data center chips in orbit, while for SpaceX, Nvidia tech is becoming the backbone of its compute and AI ambitions.
https://finance.yahoo.com/markets/stocks/article/nvidias-relationship-with-spacex-is-deepening-150341549.html
