Nvidia Reveals $21 Billion SpaceX Stake as Musk Commits to Exclusive Chip Partnership
Nvidia discloses that it owns nearly 123 million shares in SpaceX, a stake worth nearly $21 billion at the end of June according to an SEC filing. The value stems from Nvidia's investment in xAI, completed in January, shortly before Elon Musk combines the AI lab with SpaceX. SpaceX shares fall sharply since the company's June initial public offering, bringing the stake's current value to roughly $17 billion.
The filing highlights the tangled financial relationships between the $5.5 trillion chipmaker and some of its largest customers. Musk says on SpaceX's first public earnings call that the company builds its data centers exclusively on Nvidia hardware, praising the upcoming Vera Rubin architecture as the best AI computer available and emphasizing close cooperation between the two companies.
The SpaceX stake is part of a broader strategy by Nvidia chief Jensen Huang to deploy the company's financial power across the AI industry. Nvidia commits more than $100 billion to AI companies over the past two years, including investments in CoreWeave, Thinking Machines, Safe Superintelligence, and Cursor, which SpaceX acquires for $60 billion this week. Nvidia also plans to assemble more than $500 billion from investors including Apollo Global, Blackstone, BlackRock, Brookfield, Goldman Sachs, and KKR to help finance its customers.