SpaceX shares experienced a 14% decline following revelations of its capital expenditures exceeding $18 billion last quarter, primarily for its artificial-intelligence build-out. This figure, double the previous quarter, unsettled investors concerned about uncertain returns. The stock drop also impacted AMD, which fell 7% after SpaceX announced exclusive chip usage from rival Nvidia, whose shares consequently rose 4%.

In AI leadership changes, Google DeepMind's CEO Demis Hassabis is transitioning to chairman and chief scientist. Meanwhile, chief scientist Jeff Dean is departing with three other veterans to establish a new AI startup. These shifts occur amid high-profile departures and delays in releasing competitive AI models. Alphabet, Google's parent, saw its shares drop 4%.

Elsewhere, Eli Lilly surged 5% on strong demand for its weight-loss drugs, Mounjaro and Zepbound. Shake Shack's stock climbed 12% after activist investor Starboard Value announced a multi-hundred-million-dollar stake, aiming to bolster the burger chain amidst a challenging period for fast-food companies. The Nasdaq fell 0.8%, influenced by SpaceX's performance, while the Dow industrials reached a record high.