Nvidia disclosed its $21 billion stake in SpaceX
Nvidia reported that at the end of the second quarter, its stake in Elon Musk’s SpaceX was valued at approximately $21 billion. The chipmaker noted in a filing with the U.S. Securities and Exchange Commission that it owns 122.8 million Class A shares of the rocket company.
According to CNBC, SpaceX held its initial public offering in June. On Friday, its shares closed at $140, down from $170.86 at the end of June. At that price, the value of Nvidia’s stake fell to approximately $17.2 billion.
The stake in SpaceX is Nvidia’s second-largest investment after its stake in Intel, which was valued at approximately $22 billion at the time of publication. At the end of the second quarter, its value stood at about $30 billion. CNBC notes that Nvidia invested $5 billion in Intel less than a year ago.
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According to FactSet, Nvidia ranks sixth among SpaceX’s investors. Elon Musk remains the company’s largest shareholder with a stake valued at approximately $850 billion, while Alphabet ranks second with a stake worth roughly $78 billion.
According to CNBC, citing a source familiar with the matter, Nvidia acquired its SpaceX shares through a $10 billion investment in Musk’s xAI as part of a $20 billion funding round in January. In February, SpaceX acquired xAI in a deal that valued the company at $1.25 trillion.
During a second-quarter earnings call, Musk stated that SpaceX would exclusively use Nvidia chips in its AI data centers and for advanced artificial intelligence models. He also said he expects SpaceX to receive a “significant volume” of Nvidia Vera Rubin GPUs next year.
