Nvidia has revealed ownership of approximately 123 million shares in SpaceX, valued at nearly $21 billion as of the end of June, according to a Securities and Exchange Commission filing released Friday. The stake has declined in value to roughly $17 billion following SpaceX’s recent initial public offering, during which share prices fell significantly.
The investment represents a substantial return on Nvidia’s earlier commitment to xAI, which was completed in January before Elon Musk consolidated the artificial intelligence laboratory with his rocket company. The disclosure underscores the extent to which Nvidia’s leadership has leveraged the chipmaker’s position as the world’s most valuable company to establish interconnected financial relationships throughout the AI sector, including with some of its primary customers.
During SpaceX’s first public earnings call, Musk announced an exclusive partnership with Nvidia to equip the rocket company’s data centers. He stated that SpaceX selected Nvidia’s Vera Rubin architecture as the foundation for its computing infrastructure, citing its capabilities as a superior AI platform. Nvidia has committed over $100 billion to various AI-focused entities during the preceding two years, including investments in cloud computing ventures and artificial intelligence laboratories.
Nvidia revealed this week that it is organizing a consortium comprising Apollo Global, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs, and KKR to assemble more than $500 billion in financing for its customers. The arrangement involves Nvidia offering partial loan guarantees backed by the value of its semiconductor products. SpaceX indicated plans to substantially expand its computing infrastructure from 2 gigawatts by year-end to approximately 10 gigawatts by the conclusion of 2027.
SpaceX’s IPO generated significant returns for early investors. Google maintains approximately 7 percent ownership in the rocket manufacturer, having made an original investment of $900 million in 2015, with that stake now valued at approximately $94 billion.
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