Nvidia discloses $21 billion SpaceX stake at end of Q2

• Nvidia owns 122.8 million Class A shares of SpaceX, making it the sixth biggest investor; the stake's value has declined to approximately $17 billion as SpaceX stock fell from $170.86 to $140 since the June IPO
• SpaceX announced it will exclusively use Nvidia's GPUs for AI data centers and frontier model training, citing Nvidia chips as having the 'best architecture' for AI workloads
• Nvidia's xAI stake, now worth $22 billion (down from $30 billion at quarter-end), represents a substantial return on its $5 billion investment made less than a year ago

Summary: Nvidia Discloses $21 Billion SpaceX Stake

Key Facts and Figures

Nvidia disclosed a $21 billion stake in SpaceX as of Q2 2025, holding 122.8 million Class A shares following SpaceX's June 2025 IPO. The stake represents Nvidia's second-largest holding after its position in xAI, currently valued at $22 billion (down from $30 billion at quarter-end). Nvidia's xAI investment of $5 billion made less than a year ago has generated substantial returns.

Shareholdings and Market Position

Based on FactSet data, Nvidia ranks as SpaceX's sixth-largest investor. Elon Musk remains the dominant shareholder with an approximately $850 billion stake. SpaceX shares have experienced volatility since going public, closing at $140 on Friday—down from $170.86 at the end of June, reducing Nvidia's position value from the $21 billion reported at quarter-end.

Strategic Partnership

The financial stake aligns with a significant operational partnership. Elon Musk announced on SpaceX's recent earnings call that the company will exclusively use Nvidia's AI chips in its data centers and for training AI frontier models. Musk praised Nvidia's graphics processing units as having the "best architecture" for AI training and inference, adding that SpaceX expects a "significant allocation" of Nvidia's next-generation Vera Rubin GPUs in the coming year.

Market Implications

This disclosure highlights the deepening relationship between two major technology companies at the intersection of AI and aerospace. The strategic partnership positions Nvidia as a critical technology provider for SpaceX's AI infrastructure while providing Nvidia with equity exposure to the space exploration sector.