Peers Rally After Micron’s 346% Revenue Surge; Nvidia Backs $2.5B Agility Robotics SPAC
NVDA•Semiconductor peers SanDisk and Western Digital rose 10% and 4% as Micron's Q3 revenue jumped 346% YoY to $41.5B, while Nvidia shares slipped on Qualcomm's $15B data center revenue forecast. Nvidia also joined Amazon and SoftBank in investing in Agility Robotics' $2.5B SPAC merger to fund humanoid robots.
1. Peer Rally on Micron’s Blowout Results
Memory and storage stocks rallied sharply as Micron reported Q3 revenue of $41.5 billion, up 346% year-over-year, with an 84.9% gross margin and EPS of $25.11. SanDisk and Western Digital gained 10% and 4% respectively, while Qualcomm and Applied Materials also saw advances and the SOXX ETF rose over 1%.
2. Nvidia’s Market Reaction
Nvidia shares declined after Qualcomm projected $15 billion in new data center revenue, signaling intensified competition in AI chips. Investors weighed Nvidia’s industry leadership against rivals’ expanded data center ambitions.
3. Nvidia Invests in Agility Robotics SPAC
Nvidia joined Amazon and SoftBank in backing Agility Robotics’ $2.5 billion SPAC merger, which is set to raise over $620 million to commercialize the Digit v5 humanoid robot. The funding will support next-generation robotics deployments in warehouses and manufacturing facilities.
