Key Takeaways
- The chipmaker revealed ownership of 122.8 million Class A shares in SpaceX, initially valued at $21 billion at Q2’s conclusion
- Share price depreciation from $170.86 to $140 following the June public offering has reduced the holding’s worth to approximately $17.2 billion
- The SpaceX equity originated from Nvidia’s $10 billion xAI investment, subsequently acquired by SpaceX in a February transaction valued at $1.25 trillion
- Among SpaceX investors, Nvidia ranks sixth; Elon Musk maintains the dominant position with holdings valued near $850 billion
- Additional positions disclosed include approximately $30 billion in Intel, $4.7 billion in CoreWeave, plus various other equity stakes
The tech giant’s Friday SEC disclosure finally quantified what investors had been anticipating: Nvidia maintains 122.8 million Class A shares of SpaceX, representing approximately $21 billion in value when Q2 concluded.
Following SpaceX’s historic June public debut at a price point of $170.86 per share at quarter’s end, the stock has since retreated to $140 by Friday’s trading close, diminishing Nvidia’s stake value to approximately $17.2 billion.
This positions SpaceX as Nvidia’s second-largest publicly traded investment, trailing only its Intel holdings. The chip manufacturer’s Intel position currently commands roughly $22 billion in value, down from the $30 billion mark at quarter end, yet still representing substantial gains on the $5 billion investment executed under a year ago.
According to FactSet analytics, Nvidia occupies the sixth position among SpaceX’s largest shareholders. Musk dominates ownership with holdings approaching $850 billion in value. Alphabet secures second place with approximately $78 billion invested.
The Origin of Nvidia’s SpaceX Investment
This substantial SpaceX holding originated in January, when Nvidia committed $10 billion to Musk’s xAI venture as a component of a broader $20 billion capital raise. The following month, SpaceX completed its acquisition of xAI through a massive $1.25 trillion transaction, effectively transforming Nvidia’s xAI investment into SpaceX ownership.
The business relationship has evolved considerably beyond mere shareholding. During SpaceX’s Q2 financial results presentation this month, Musk announced the company’s commitment to utilize exclusively Nvidia processors throughout its artificial intelligence infrastructure, praising Nvidia’s GPU technology as the superior platform for both training and deploying advanced AI models.
Additional Portfolio Revelations
The regulatory filing uncovered a more extensive investment strategy than market observers had anticipated.
Beyond SpaceX, Nvidia maintains positions including nearly $30 billion in Intel stock, $4.7 billion allocated to CoreWeave, $2.2 billion in Nokia shares, $2.1 billion invested in Synopsys, and $329 million positioned in Nebius Group.
During the SpaceX quarterly results discussion, Musk also indicated expectations for the aerospace company to secure a “significant allocation” of Nvidia’s forthcoming Vera Rubin GPU architecture scheduled for 2026 deployment.
Nvidia has scheduled its Q2 fiscal 2027 earnings announcement for August 26.
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