Nvidia’s SEC filing shows a 122.8 million Class A share stake in SpaceX valued at roughly $21 billion, now its second-largest holding behind Intel’s $22 billion position
SpaceX shares have slid from $170.86 at the end of June to $140, meaning Nvidia’s stake is currently worth closer to $17.2 billion in market terms
Elon Musk confirmed SpaceX will exclusively use Nvidia’s Vera Rubin GPU architecture for its data center buildout, deepening the two companies’ ties
Elon Musk’s rocket company just became a $21 billion line item on Nvidia’s balance sheet, and depending on which day you check the stock ticker, that number could look a lot smaller. A fresh SEC filing shows Nvidia holds 122.8 million Class A shares of SpaceX, a position the filing pegs at approximately $21 billion, implemented fact as of the reporting date, making it the chipmaker’s second-largest investment after its roughly $22 billion stake in Intel. But here’s the catch: SpaceX shares have since dropped to $140, down from $170.86 at the end of June, which would put the current market value of Nvidia’s stake closer to $17.2 billion, a projected, real-time recalculation rather than the officially filed figure.
How Nvidia Rode Its Way Into SpaceX’s Cap Table
The stake traces back to Nvidia’s $10 billion infusion into Musk’s AI startup xAI, which SpaceX absorbed in February 2026 through a deal valued at roughly $1.25 trillion. That transaction effectively converted Nvidia’s xAI bet into SpaceX equity, and it now ranks the company as SpaceX’s sixth-largest investor. Musk himself remains the dominant shareholder with a stake worth an estimated $850 billion, while Alphabet sits in second place at roughly $78 billion. On the operational side, Musk told investors on SpaceX’s first-ever public earnings call that the company has committed exclusively to Nvidia’s Vera Rubin GPU architecture for its data center infrastructure, calling it the top AI computing platform available, with a substantial GPU allocation expected next year.
What This Means for Your Portfolio and Wallet
In after-hours trading, SpaceX (SPCX) ticked up 0.35% while Nvidia (NVDA) slipped 0.12%, a muted reaction given the size of the disclosure. Zoom out, though, and the year-to-date picture is more telling: Nvidia shares are up nearly 20%, while SpaceX has fallen about 7% since its June public debut. For anyone holding Nvidia, this cross-holding means part of your exposure is now indirectly tied to SpaceX’s satellite and rocket business, not just chips. Retail sentiment on Stocktwits is ‘neutral’ on Nvidia but ‘extremely bullish’ on SpaceX, a gap worth watching if you’re weighing entry points.
Strategic Positioning & Defense Ideas
Concentrated bets between AI infrastructure names carry correlation risk. If you own Nvidia for its chip dominance, understand that a chunk of its balance sheet now moves with SpaceX’s volatile, newly public stock. Diversifying across sectors, keeping some dry powder in cash, and not over-indexing on any single AI supply chain name remain sensible guardrails. Disclaimer: This analysis is for educational and informational purposes only and should not be construed as financial or investment advice.
What to Watch Next
Watch for SpaceX’s next earnings update and any further GPU allocation announcements tied to the Vera Rubin rollout, both of which could move the value of Nvidia’s stake in either direction. Readers can follow the original reporting from ProfitConfidential for filing details and market commentary.
