Andrew, Ben, and Tom discuss SpaceX falling 11% despite laying out an ambitious AI and Starlink roadmap including Grok 5 trained on internal SpaceX data by year-end, 1.4GW of current compute growing toward 10GW by end of 2027, deploying NVL72-designed data centers on the ground rather than in space, boots on the moon by 2028, and the goal of scaling launch cadence to one per day in 2027, SpaceX&#x27;s decision to go exclusively with Nvidia sending AMD down 9% despite good results and CPU acceleration while Arista Networks jumped 14% on accelerating networking demand tied to Nvidia, CVS raising guidance and re-adding Zepbound to its formulary while publicly backing Eli Lilly with expanded GLP-1 support, Lilly beating on stronger-than-expected GLP-1 pricing, Disney rising 4% on parks strength and a TikTok short-form video partnership, Uber slipping despite record first-time user additions, and the JOLTS report showing softer job openings but likely not a signal Warsh will weigh. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosure

SpaceX Picks Nvidia Over AMD, CVS Backs Lilly on GLP-1s | August 5, 2026 – Morning Market Briefing

The Morning Market Briefing

Hey everybody, welcome to The Morning Market Briefing. It's Wednesday, August 5, 2026. Hope you're doing well out there. Been making it here just in the nick of time after a big school drop off. Sounds like everything went swimmingly. No drama at all. Very, very easy first day. Very easy first day getting dropped off for sleepy Joe. Tom, how we doing? Feeling good. I think we need to tell, give the people what they want. You know what they want. They want to talk about SpaceX.

Let's SpaceX it up baby. What are we down right now? 10%, 11%? It was 11 last I looked. Let's get a real time number. So SpaceX reported their first earnings. I will readily admit it was really hard to discern what the narrative was because as these numbers started to flow out then the market generally was relatively positive initially because you were getting things like revenue that looks positive. You were getting smaller losses than anticipated in the AI space. Everything seemed positive and then very quickly it seemed to turn negative.

So if you were trying to distill this, it seems like a couple themes kind of emerged. One of which is the data center in space thing, which was so hyped up leading into the IPO. Seems to be, I don't know if you could say if it's on the back burner, but not the priority. Yeah. Elon said that the data center on the ground is cheaper. So we'll just do the data center on the ground. Very different than what he said three months ago.

SpaceX Picks Nvidia Over AMD, CVS Backs Lilly on GLP-1s | August 5, 2026 – Morning Market Briefing

Read the full transcript

The candid version is on a podcast,
not the earnings call.

SpaceX Picks Nvidia Over AMD, CVS Backs Lilly on GLP-1s | August 5, 2026 – Morning Market Briefing

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.