SpaceX Stock Drops 10.5% Amid AI Spending Concerns

SpaceX shares fell 10.5% on AI capex worries, while Shopify surged 20%. Gold topped $4,200, lifting miners. AMD slid 7% on weak Q2 outlook.

Woofun AI reports that U.S. equities opened mixed, with the Dow Jones Industrial Average gaining 0.33%, the S&P 500 rising 0.56%, and the Nasdaq Composite up 0.39%. SpaceX shares declined 10.5% as market participants reacted to concerns regarding the company's increased artificial intelligence expenditures.

AMD stock fell 7% following disappointing second-quarter performance and outlook figures. Conversely, Shopify shares advanced 20%. Gold prices briefly exceeded $4,200, driving Harmony Gold up 7.5% and Kinross Gold up 8.3%, while storage concept stocks experienced slight declines.