Nvidia ($NVDA) has disclosed that it owns 122.8 million Class A shares of SpaceX ($SPCX), valued at approximately $21 billion as of the end of the second quarter, making the aerospace company one of the chipmaker’s largest disclosed equity investments.
The position appeared in Nvidia’s latest 13F filing with the U.S. Securities and Exchange Commission, where SpaceX ranked as the company’s second-largest publicly disclosed holding, behind only its investment in Intel.
The SpaceX stake stems from Nvidia’s earlier $10 billion investment in xAI during its January funding round. Following the merger of xAI and SpaceX, Nvidia received SpaceX Class A shares, making it one of the company’s largest institutional shareholders.
The disclosure also highlights the increasingly close strategic relationship between the two companies. Earlier this month, SpaceX announced it would build its AI infrastructure exclusively around Nvidia’s Vera Rubin platform, while the companies also unveiled a partnership to develop AI-powered satellite computing through the Starmind project.
Although the filing valued Nvidia’s SpaceX holding at roughly $21 billion based on June 30 prices, the stake has since declined in value following SpaceX’s post-IPO share-price pullback. Even so, the investment remains one of Nvidia’s most significant strategic equity positions outside its core semiconductor business.
The investment reflects Nvidia CEO Jensen Huang’s broader strategy of taking equity stakes in key AI ecosystem partners while simultaneously supplying them with advanced computing hardware. Over the past two years, Nvidia has expanded investments across AI infrastructure, model developers, and cloud computing companies, reinforcing its central role in the industry’s rapid expansion.
