Nvidia reports $21 billion stake in SpaceX at end of June

Nvidia disclosed in an SEC filing that it held nearly 123 million shares of SpaceX, worth approximately $21 billion at the end of June. The filing follows a sharp decline in SpaceX’s share price since its June initial public offering, which would reduce the stake’s current value to about $17 billion.

The investment is linked to Nvidia’s earlier financial support for xAI, which Musk merged with SpaceX in January. Nvidia’s broader strategy includes committing more than $100 billion to AI companies over the past two years, including investments in cloud computing startups like CoreWeave and AI labs such as Thinking Machines and Safe Superintelligence.

During SpaceX’s first public earnings call, Elon Musk said the company had an exclusive arrangement with Nvidia to equip its data centers. Musk described Nvidia’s Vera Rubin architecture as the best AI computer and emphasized the close partnership between the two companies.

SpaceX also announced plans to scale its computing capacity from 2 gigawatts at the end of 2026 to ‘closer to 10GW’ by the end of 2027, a move that underscores the growing demand for AI infrastructure.

Nvidia is assembling a consortium of investors, including Apollo Global, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs, and KKR, to finance more than $500 billion in support of its customers. The chipmaker plans to partially guarantee loans backed by the value of its chips.