Nvidia’s stock climbed more than 10% in the week ending August 8, 2026, pulling the broader semiconductor sector along with it.
The Philadelphia Semiconductor Index rose more than 8% over the same stretch.
What changed
The clearest catalyst came from SpaceX. During an earnings call, the company announced plans to build both terrestrial and orbital data centers running on Nvidia’s Vera Rubin-based NVL72 systems.
On the product side, Nvidia is reportedly testing lower-HBM memory configurations for its upcoming Rubin Ultra chip, specifically variants at 192GB and 256GB. The original specifications called for higher configurations, but global memory shortages have prompted a pragmatic recalibration.
Why the selloff happened in the first place
The weeks leading into early August 2026 were rough for semiconductor stocks, driven by two compounding concerns. First, questions about whether hyperscaler capital expenditure on AI infrastructure was sustainable at its current pace. Second, broader valuation anxiety as investors tried to reconcile sky-high price multiples with actual near-term earnings visibility.
The SpaceX announcement introduced a concrete, named demand commitment, and markets moved accordingly.
What to watch from here
The Rubin Ultra chip’s HBM configuration adjustments are worth tracking beyond the immediate memory shortage context. If Nvidia can deliver competitive performance at lower memory specs, customers who couldn’t justify the cost at higher configurations might find the economics more attractive at 192GB or 256GB variants.
The SpaceX data center plans also introduce a new category of buyer into the AI infrastructure conversation. The terrestrial component of SpaceX’s announcement is real and near-term, adding a name-brand anchor to the demand narrative.
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