Dow Jones hits another record high, S&P 500, NASDAQ down as SpaceX, AMD drag

Benchmark US indices ended Wednesday's session mixed with the Dow Jones hitting another record high and the S&P 500 and the NASDAQ Composite settling in the negative territory.

The Dow Jones Industrial Average ended 0.49% higher at 54,349.12. The S&P 500 and the NASDAQ Composite closed 0.17% and 0.83% lower, respectively.

The company's net loss narrowed to $541 million in Q2 from a net loss of $1 billion in the same period the previous year. Its revenue rose 92% to $7.8 billion, compared to $4.1 billion in the year-ago quarter.

AMD shares fell 6.5% despite the results topping analysts' estimates. Palantir Technologies (PLTR) and Sandisk were also down 2.6% and 5.4%, respectively.

Shares of AI chipmaker Nvidia Corp advanced 3.43% to $219.22 per share after Musk said that SpaceX would exclusively use Nvidia processors for its artificial intelligence computing infrastructure.

Alphabet shares tanked 4.05% to $360.13 after the firm said that its chief scientist Jeff Dean will leave the company after 27 years.

"Jeff and Google Senior Fellow Sanjay Ghemawat are launching an independent public benefit corporation to accelerate discoveries in ML, science, and engineering... We’ll continue to work with them as a founding investor and cloud partner and collaborate on a research framework for ML systems and related infrastructure advances," Google CEO Sundar Pichai said.

Additionally, Google DeepMind chief executive officer Demis Hassabis said that he is stepping down from his role. The Nobel Prize recipient will now serve as the chair of Google DeepMind and the chief scientist of Alphabet.

Meanwhile, the international benchmark Brent Crude was up 0.42% to $79.78 per barrel. West Texas Intermediate rose 0.7% to $75.75 a barrel.