Nvidia discloses $21B SpaceX stake in SEC filing
Original: Nvidia discloses $21B stake in SpaceX
Why This Matters
Nvidia's $21B SpaceX stake illustrates deepening financial entanglement between chipmakers and major AI infrastructure builders.
Nvidia disclosed ownership of ~123 million SpaceX shares worth nearly $21B as of end of June, per an SEC filing. The stake originated from its January xAI investment, shortly before Musk merged xAI with SpaceX. SpaceX has since IPO'd, and the stake's value has fallen to ~$17B.
Nvidia disclosed in an SEC filing on Friday that it holds approximately 123 million shares in SpaceX, valued at nearly $21 billion as of the end of June. The stake traces back to Nvidia's investment in xAI, completed in January, shortly before Elon Musk merged the AI lab with SpaceX. Since SpaceX's IPO, its share price has declined, reducing Nvidia's stake to roughly $17 billion in current value. During SpaceX's first public earnings call last week, Musk confirmed an exclusive arrangement with Nvidia to equip its data centers, citing the company's Vera Rubin architecture as 'the best AI computer.' Nvidia has committed over $100 billion to AI companies in the past two years, including investments in CoreWeave, Thinking Machines, Safe Superintelligence, and Cursor — which SpaceX acquired for $60 billion this week. Nvidia also announced plans to mobilize over $500 billion from a consortium including Apollo Global, Blackstone, BlackRock, Brookfield, Goldman Sachs, and KKR to help finance customer chip purchases. SpaceX plans to scale computing capacity from 2 gigawatts by end of 2025 to closer to 10GW by end of 2027.