Nvidia has made public its substantial equity stake in SpaceX, owning nearly 123 million shares that were valued at approximately $21 billion at the end of June, according to a Securities and Exchange Commission filing released Friday. The chipmaker’s stake has diminished in value since SpaceX’s initial public offering earlier this month, with the shares now worth roughly $17 billion following a sharp decline in the company’s stock price.
The disclosure reflects returns from Nvidia’s earlier investment in xAI, a transaction completed in January that preceded Musk’s subsequent merger of the AI laboratory with SpaceX. The revelation underscores Chief Executive Jensen Huang’s broader strategy of leveraging Nvidia’s substantial financial resources to establish interconnected relationships throughout the artificial intelligence industry, including with several of its major customers.
During SpaceX’s inaugural public earnings call last week, Musk announced an exclusive arrangement under which the rocket company will exclusively use Nvidia technology to develop its data center infrastructure. Musk cited what he characterized as Nvidia’s superior architecture and expressed enthusiasm for the partnership between the two companies.
Nvidia has committed over $100 billion to artificial intelligence ventures within the past two years, with significant investments spanning cloud computing startups and AI research laboratories. The company disclosed this week a separate initiative to assemble more than $500 billion from a consortium of major investors—including Apollo Global, Blackstone, BlackRock, and others—to finance its customers through loans partially guaranteed by Nvidia and secured by the value of its semiconductor products.
SpaceX intends to substantially expand its computing capacity, planning an increase from 2 gigawatts by year-end to approximately 10 gigawatts by the end of 2027. The rocket maker’s IPO generated substantial returns for early investors, with Google’s approximately 7 percent stake valued at roughly $94 billion, according to available data.
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