NVIDIA Discloses Approximately $21 Billion Stake in SpaceX
NVIDIA disclosed in an SEC filing that it held approximately 122.8 million Class A shares of SpaceX, valued at around $21 billion, as of the end of the second quarter.
This stake was converted from a previous investment in xAI after the merger.
SpaceX completed its IPO in June, with an issue price of $135 and a quarter-end stock price of about $171.
NVIDIA is currently one of SpaceX's sixth largest institutional shareholders.
SpaceX has stated it will exclusively use NVIDIA AI chips to build data centers and models.
On the market side, the integration of chip and aerospace AI drives a reassessment of cross-shareholding value, with funds flowing towards NVIDIA and SpaceX-related assets, benefiting both parties from a closed loop of computing power and applications, while other chip manufacturers face pressure from market share lock-in.
Source: Public Information
ABAB AI Insight
NVIDIA indirectly acquired SpaceX equity through its investment in xAI, publicly disclosed for the first time in the post-IPO 13F, indicating its extension from pure chip supply to strategic equity layout.
In terms of capital pathways, the investment and exclusive chip agreement create a two-way lock-in, shifting resources from hardware sales to equity appreciation and long-term computing power binding, motivated by capturing dual benefits from space data centers and AI infrastructure.
Similar cases can be seen in NVIDIA's equity or deep cooperation layouts with other AI and cloud companies, as well as Alphabet's long-term holdings in SpaceX; NVIDIA is currently in a phase of expanding from hardware dominance to ecosystem investment.
The structural judgment belongs to capital concentration: chip giants deepen binding with downstream applications and computing power demand through equity, upgrading supply relationships to a community of interests, thereby strengthening their competitive moat.
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