Nvidia (NVDA) Holds Massive $17.2 Billion Stake in SpaceX After Stock Decline

Key Highlights

• SEC documents show Nvidia owns 122.8 million Class A shares of SpaceX, initially valued at $21 billion at Q2’s conclusion
• The aerospace company’s shares declined from $170.86 to $140 following its June public debut, reducing Nvidia’s stake value to approximately $17.2 billion
• The chipmaker’s SpaceX holdings originated from a $10 billion xAI investment, later converted when SpaceX purchased xAI for $1.25 trillion in February
• Among SpaceX investors, Nvidia ranks sixth; Elon Musk maintains the largest position valued near $850 billion
• The same regulatory filing disclosed Nvidia’s additional holdings: approximately $30 billion in Intel, $4.7 billion in CoreWeave, plus other significant investments

Friday’s regulatory disclosure from Nvidia finally confirmed what investors had been anticipating: the semiconductor giant possesses 122.8 million Class A shares in SpaceX, representing approximately $21 billion in value when the second quarter concluded.

NVIDIA Corporation, NVDA

The rocket and satellite manufacturer completed its landmark public offering in June, with shares priced at $170.86 as the quarter ended. However, by the market’s close on Friday, shares had retreated to $140, shrinking Nvidia’s investment value to roughly $17.2 billion.

This positions SpaceX as Nvidia’s second-largest publicly traded investment, trailing only its Intel holdings. The company’s Intel position currently stands at approximately $22 billion, down from $30 billion when Q2 ended, though it still represents substantial gains on the $5 billion initial investment made under a year ago.

Based on FactSet analytics, Nvidia holds the sixth-largest ownership position in SpaceX. Musk commands the leading stake with holdings worth approximately $850 billion. Alphabet secures the runner-up position with roughly $78 billion invested.

The Path to Nvidia’s SpaceX Investment

The origin of this SpaceX stake dates to January, when Nvidia committed $10 billion to Musk’s artificial intelligence venture xAI, participating in a broader $20 billion capital raise. The following month, SpaceX completed its acquisition of xAI through a $1.25 trillion transaction, transforming Nvidia’s xAI investment into SpaceX ownership.

This relationship has evolved beyond mere equity ownership. During SpaceX’s second-quarter earnings discussion held earlier this month, Musk announced the company’s decision to utilize Nvidia chips exclusively across its artificial intelligence computing facilities, praising Nvidia’s GPU technology as the superior platform for both training and deploying advanced AI models.

Additional Portfolio Revelations

The regulatory document unveiled a more extensive investment strategy than market observers had anticipated.

Beyond SpaceX, Nvidia maintains substantial positions: nearly $30 billion in Intel, $4.7 billion in CoreWeave, $2.2 billion in Nokia, $2.1 billion in Synopsys, and $329 million in Nebius Group.

During the SpaceX quarterly results discussion, Musk also indicated the aerospace firm anticipates receiving a “significant allocation” of Nvidia’s upcoming Vera Rubin GPU platform when it launches in 2026.

Nvidia’s own fiscal 2027 second-quarter financial results are scheduled for release on August 26.

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