Nvidia is unveiling a $21 billion stake in SpaceX that gives investors a better view of one of the chipmaker’s biggest private-company bets and underscores the increasingly close connection between Nvidia SpaceX and the Elon Musk space and tech empire.
The disclosure was made in Nvidia’s latest regulatory filing detailing holdings as of June 30, 2026. The filing indicated that Nvidia owned around 122.8 million Class A shares of SpaceX, which were valued at about $21 billion at the end of the second quarter. Elon Musk’s rocket conglomerate shares have plunged since its June initial public offering, adding to pressure on the valuation of the stake in later sessions.
Nvidia SpaceX investment
The Nvidia stake comes from an earlier investment by Nvidia in xAI. In February, SpaceX acquired xAI after Nvidia invested $10 billion in Musk’s artificial intelligence company. That deal saw Nvidia’s position converted into SpaceX stock, giving the chipmaker a significant stake in the rocket company.
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The size of SpaceX’s stake makes it one of Nvidia’s largest disclosed equity holdings, trailing only the company’s larger Intel stake at the end of the second quarter. The investment is also a sign of the strategic depth of the partnership—last week during SpaceX’s first public earnings call, Elon Musk also noted the company has an exclusive relationship with Nvidia to supply its data centers.
The news also comes just after SpaceX’s initial public offering, according to Bloomberg reporting on the company’s market debut. The SpaceX shares were issued from Nvidia’s January investment in Musk’s xAI as part of a $20 billion funding round that was later converted into SpaceX equity in a restructuring linked to integrating xAI into Musk’s broader corporate ecosystem. The company said its June IPO raised about $85.7 billion and its Class A shares began trading on Nasdaq on June 12 under the ticker SPCX.
Why the $21 billion stake matters
Nvidia’s investment is more than a financial bet, and it signals deeper ties with SpaceX as the company builds out its AI and computing infrastructure. The company has also adopted Nvidia’s Vera Rubin architecture for its data centers, which underscores the growing strategic alignment between the two companies. That $21 billion valuation is based on SpaceX’s position at the end of June, and it has likely changed since then, as post-IPO trading has dipped below earlier highs.
For Nvidia, the SpaceX stake is part of a broader strategy under Chief Executive Officer Jensen Huang to combine its leadership in AI hardware with investments in companies that could become major customers over the long term. Overall, the deal highlights the increasing links between AI developers, semiconductor companies, and large infrastructure players.
