Asian markets saw a broad rally as investors shifted focus back to the potential of the AI trade. The positive sentiment was bolstered by a strong quarterly performance from SpaceX, which reported a 92% surge in revenue to $7.8 billion, significantly outperforming market expectations. Analysts noted that the company’s diversified revenue streams—spanning connectivity, AI, and space operations—provided a stable foundation for its $1.75 trillion valuation.

While the broader market trended upward, the tech sector faced mixed signals. Specifically, AMD encountered setbacks that tempered some of the enthusiasm surrounding chip-related stocks. Additionally, global oil prices saw a dip, which typically influences market sentiment in energy-dependent Asian economies. Despite these headwinds, the overall market narrative remains focused on the financial firepower of major tech players, with SpaceX’s $100 billion in cash reserves serving as a key indicator of continued investment capacity in high-growth sectors.