Key Highlights
- Recent SEC documents show Nvidia owns 122.8 million Class A shares of SpaceX, valued at $21 billion at Q2’s conclusion
- The aerospace company’s shares declined from $170.86 to $140 following its June public offering, reducing Nvidia’s stake value to approximately $17.2 billion
- The SpaceX holdings originated from Nvidia’s $10 billion xAI investment, which SpaceX subsequently acquired for $1.25 trillion in February
- Among SpaceX investors, Nvidia ranks sixth; Elon Musk maintains the largest position valued at approximately $850 billion
- The same SEC disclosure revealed Nvidia’s portfolio includes nearly $30 billion in Intel, $4.7 billion in CoreWeave, plus additional strategic investments
Friday’s regulatory filing from Nvidia finally confirmed what market observers had been anticipating: the semiconductor giant maintains ownership of 122.8 million Class A shares in SpaceX, representing approximately $21 billion in value when Q2 concluded.
Following SpaceX’s landmark public debut in June at $170.86 per share, the stock experienced a downturn to $140 by week’s end, consequently reducing Nvidia’s stake to roughly $17.2 billion in current market value.
This SpaceX investment represents Nvidia’s second-largest publicly traded holding, trailing only its Intel position. The chipmaker’s Intel investment currently stands at approximately $22 billion, having decreased from $30 billion at quarter’s end, yet still delivering impressive returns on the $5 billion initial commitment made under twelve months ago.
According to FactSet analytics, Nvidia occupies the sixth position among SpaceX’s largest shareholders. Musk commands the leading investor position with holdings worth approximately $850 billion, while Alphabet secures second place with roughly $78 billion invested.
The Origin of Nvidia’s SpaceX Investment
The path to this SpaceX ownership began in January, when Nvidia committed $10 billion to Musk’s xAI venture as part of a comprehensive $20 billion capital raise. The following month, SpaceX executed an acquisition of xAI in a transaction valued at $1.25 trillion, effectively transforming Nvidia’s xAI ownership into SpaceX shares.
This business relationship has evolved beyond mere equity ownership. During SpaceX’s recent Q2 financial results presentation, Musk announced that SpaceX’s AI data infrastructure will operate exclusively on Nvidia processors, praising Nvidia’s GPU technology as the superior platform for both training and deploying advanced AI models.
Additional Portfolio Revelations
The regulatory submission disclosed a more extensive investment strategy than market analysts had anticipated.
Beyond SpaceX, Nvidia maintains nearly $30 billion in Intel holdings, $4.7 billion in CoreWeave, $2.2 billion in Nokia, $2.1 billion in Synopsys, and $329 million in Nebius Group.
During the recent SpaceX financial discussion, Musk also indicated that SpaceX anticipates receiving a “significant allocation” of Nvidia’s upcoming Vera Rubin GPU series scheduled for 2026 deployment.
Nvidia’s fiscal 2027 Q2 earnings announcement is scheduled for August 26.
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