Saudi Sovereign Fund Discloses Holding 154.1 Million Shares of SpaceX
Documents from the U.S. Securities and Exchange Commission show that the Public Investment Fund of Saudi Arabia has disclosed holding a total of 154.1 million Class A shares of SpaceX.
This position was newly disclosed for the second quarter, with an estimated market value of approximately $26.3 billion based on the end-of-period price.
SpaceX completed its IPO in June, with an issue price of $135.
PIF previously converted its investment in xAI through its supported entity Humain into SpaceX shares after the merger.
On the market side, the large holdings by sovereign funds strengthen long-term institutional support for SpaceX, with funds concentrating on aerospace and AI infrastructure. SpaceX benefits from a stable shareholder base, while other growth stocks face pressure from capital diversion.
Source: Public Information
ABAB AI Insight
The Saudi Public Investment Fund previously invested $3 billion in xAI through Humain, and after the merger with SpaceX, this was converted into shares. This 13F disclosure further confirms its exposure in the public market post-IPO.
In terms of capital pathways, PIF is converting oil revenues into SpaceX equity, focusing resources on global AI computing power and aerospace infrastructure, motivated by diversifying sovereign assets and tying into Musk's ecosystem for long-term growth.
Similar cases can be seen with UAE and Qatar sovereign funds making large investments in tech giants, as well as the Norwegian fund's allocation in U.S. tech stocks; SpaceX is currently in the phase of solidifying its institutional shareholder structure post-IPO.
The structural judgment indicates capital concentration: Middle Eastern sovereign funds are significantly flowing into cutting-edge U.S. technology, with the mechanism being to lock in equity for future computing power and space economy returns, thereby reshaping global capital flows.
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