SpaceX.tock rose early Thursday, helped, like most stocks, by Nvidia.

Shares of Elon Musk's rocket and AI company rose 0.6% to $140.47 in premarket trading, while S&P 500 futures were up 0.4% and Dow Jones Industrial Average futures were down 0.1%.

Nasdaq futures were the strongest, up 1%, thanks in part to Nvidia's strong quarterly results. Nvidia stock rose nearly 7% in premarket trading after better-than-expected earnings and strong guidance.

Wednesday evening, Nvidia reported second-quarter earnings per share of $2.22, better than the $2.09 Wall Street expected. What's more, Nvidia expects third-quarter sales of about $108 billion, up from $57 billion a year ago. Guidance was better than Wall Street's $104 billion projection. Results were a relief. Coming into earnings, Nvidia stock had dropped in eight of the past nine trading sessions.

SpaceX came up on Nvidia's earnings conference call. "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], SpaceX AI, and starting this quarter, [Amazon Web Services]," said CFO Colette Kress.

Vera is Nvidia's updated data CPU that is optimized for agentic workloads-jobs for AI that go beyond simple prompts typed into a chatbot.

Kress added that Cursor, which SpaceX recently bought, had achieved a $1 billion annual revenue run rate, or ARR. That's one of Wall Street's favorite ways to express AI sales growth. At current business levels, Cursor would do more than $1 billion in annual revenue. Of course, ARR is supposed to grow. Anthropic's ARR recently hit $65 billion, according to reports. Anthropic didn't respond to a request for comment.

There was one comment about SpaceX's AI model Grok. "Nvidia runs the leading closed models, OpenAI, Anthropic, Grok, Meta, Gemini, and the leading open models, TML, Mistral, Qwen, Kimi, GLM, DeepSeek, MiniMax, and Nemotron," added Kress.

Being a leading model is nice, but many models have popped up as AI continues to develop. A closed model is accessed on the cloud on a provider's servers and offers limited customization. An open model can be hosted on any server, enhancing data privacy, and is fully customizable.

Nvidia earnings are important for the entire market, including SpaceX. Its chips have enabled the AI computing boom that SpaceX is trying to turn into a business worth trillions.

SpaceX generated $3.2 billion in 2025 AI revenue. That number will likely surpass $60 billion in 2027, according to Wall Street estimates.