NVDA Discloses $21B Stake In SpaceX — Elon Musk’s Rocket Firm Becomes Nvidia’s No. 2 Holding

• Nvidia’s SpaceX position trails only its Intel investment, which was worth about $22 billion at the end of the latest quarter.
• The 122.8 million shares were received through Nvidia’s $10 billion investment in xAI before SpaceX acquired the AI company in February.
• SpaceX has committed to Nvidia’s Vera Rubin architecture for its data centers and expects a significant allocation of the chips next year.

Nvidia (NVDA) has disclosed a $21 billion stake in Elon Musk’s SpaceX (SPCX), with the chipmaker owning 122.8 million Class A shares in the rocket maker, according to a filing with the Securities and Exchange Commission. The investment is Nvidia’s second-largest holding, behind Intel, and comes as the two companies deepen their relationship in data centers and artificial intelligence.

At the time of writing in after-hours trading on Friday, SPCX stock was trading 0.35% higher, while NVDA shares had edged 0.12% lower.

Nvidia’s SpaceX Stake

Nvidia’s SpaceX position is its second-largest holding, behind its stake in Intel, which is currently worth about $22 billion, down from $30 billion at quarter-end. That represents a massive return on Nvidia’s $5 billion investment less than a year ago.

SpaceX’s stock closed at $140 on Friday, down from $170.86 at the end of June, bringing the value of Nvidia’s shares to about $17.2 billion, according to a report on CNBC.

Nvidia is the sixth-largest investor in SpaceX, according to FactSet data reported by CNBC. Musk is by far the largest owner, with a stake worth about $850 billion, while Alphabet (GOOGL) is second at around $78 billion.

Nvidia’s shares in SpaceX came from the company’s $10 billion investment in Musk’s xAI as part of a $20 billion round in January, CNBC reported, citing a person familiar with the matter. SpaceX acquired xAI in February in a deal valued at $1.25 trillion.

Musk Highlights Nvidia Partnership

During SpaceX’s first public earnings call last week, Musk said the company had an exclusive relationship with Nvidia to kit out its data centers.

“We’ve decided to build exclusively on Nvidia because we think [its] Vera Rubin architecture is the best architecture,” he said. “We think it’s the best AI computer and we greatly value our close co-operation and partnership on many levels with Nvidia.”

Musk also said on the call that he expects SpaceX will receive a “significant allocation” of Nvidia’s Vera Rubin GPUs next year.

NVDA, SPCX Stocks: Stocktwits Retail Sentiment

On Stocktwits, retail sentiment for NVDA was ‘neutral,’ while message volume was ‘normal.’ For SPCX, retail sentiment was ‘extremely bullish,’ while message volume was ‘normal.’

NVDA stock has gained nearly 20% year-to-date, while SPCX shares have lost nearly 7% since going public in June.

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