Asian markets have followed through on Wall Street’s record close with gains in the major semiconductor stocks, ignoring setbacks in SpaceX and AMD as they failed to meet sky-high expectations.

SpaceX Troubles

SpaceX’s troubles seem to be cash flow, or rather the lack of it. While revenue jumped to a record $7.8 billion, capex climbed above $18 billion, with almost $16 billion of that on AI alone. Analysts feared the company was burning through cash at such a ferocious rate it would have to come back to the market for more funding, through shares and/or debt.

Its bonds have taken a beating in recent weeks and there’s a small matter of 911.5 million insider and employee shares that will be free for possible sale on Thursday. SpaceX’s stock was down 7.5% after hours, wiping out most of a 9.4% gain made in regular trading.

AMD and Oil

Similarly, AMD shed 8.8% after hours as its sales and outlook topped the Street, but seemingly not by enough to justify the 142% gain its shares have made so far this year. Another big move was oil, with Brent down another 1.5% or so at $78.24 a barrel and a world away from June’s lofty peak of $102.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.