SpaceX Falls After First Earnings, AMD Drops Despite Data Center Growth

Market update for Wednesday August 5, 2026

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In today’s episode, Zaid covers:

• Stocks hit new records as the AI trade makes a massive comeback

• SpaceX reports earnings for the first time as a public company, revealing a huge AI infrastructure spending 

• AMD delivers a strong earnings report with booming AI demand, but investors punish the stock after expecting even more.

• Shopify surges after a monster quarter, while Uber faces questions about growth, competition, and the future of robotaxis.

• MySpace tries to make a comeback nearly two decades after losing the social media battle to Facebook.