SpaceX Profit and AI Demand Lift US Tech Stocks
US stock markets rose on October 21 as SpaceX reported its first quarterly profit and AI demand boosted Nvidia and Super Micro Computer.
U.S. stock markets trended higher on October 21, 2026, led by the Nasdaq, which rose between 0.67 and 0.8 percent. The rally was driven by easing bond yields, slowing inflation expectations, and strong performance in the technology sector.
Space Exploration Technologies Corp. shares surged over 8 percent after the company reported its first-ever quarterly profit of $4.4 billion and a 161 percent revenue increase to $14.6 billion. Elon Musk also confirmed that SpaceX and Tesla established independent special committees to evaluate a potential merger, which pushed Tesla shares up 3.2 percent.
AI-related stocks saw significant gains. Nvidia Corporation shares climbed nearly 14 percent after CEO Jensen Huang announced $10 billion in European investments and expanded partnerships with Google Cloud, Schneider Electric, Infineon, and Nokia. Super Micro Computer, Inc. shares rose 10.8 percent after the company raised its preliminary fiscal first-quarter revenue outlook to between $18.5 billion and $19.5 billion.
Other corporate results were mixed. Netflix shares fell 4.5 percent despite beating third-quarter earnings expectations, as the company lowered its full-year advertising revenue outlook to $2.7 billion and provided disappointing fourth-quarter guidance. AT&T also saw a share price decline despite beating expectations on both top and bottom lines.
