Nvidia has disclosed a $21 billion stake in Elon Musk’s SpaceX, primarily acquired through an investment in xAI, making it Nvidia’s second-largest holding. This strategic alliance extends to SpaceX exclusively utilizing Nvidia’s AI chips in its data centers, highlighting a deep technological partnership between the two innovative companies. The investment underscores Nvidia’s expanding influence across cutting-edge sectors, from AI to space exploration.
Tech giant Nvidia has revealed a substantial $21 billion stake in Elon Musk's space exploration company, SpaceX, as of the close of the second quarter. This significant investment, channeled through an initial commitment to Musk's artificial intelligence venture xAI, positions Nvidia as a key player in the future of space tech and AI.
The disclosure, made in a recent filing with the Securities and Exchange Commission, specifies that Nvidia holds 122.8 million Class A shares in SpaceX. While the stake was valued at $21 billion at the end of Q2 when SpaceX concluded its record-breaking initial public offering in June, the volatile nature of the stock has seen its value fluctuate. As of Friday's closing, SpaceX shares were trading at $140, a dip from $170.86 at the end of June, adjusting Nvidia's holding value to approximately $17.2 billion.
This makes Nvidia's investment in SpaceX its second-largest holding, only surpassed by its stake in Intel, which currently stands at $22 billion (down from $30 billion at quarter-end). This represents a remarkable return on Nvidia's $5 billion investment in Intel less than a year prior.
Elon Musk, chief executive officer of Tesla Inc., left, and Jensen Huang, chief executive officer of Nvidia Corp., during the US-Saudi Investment Forum at the Kennedy Center in Washington, DC, US, on Wednesday, Nov. 19, 2025. Stefani Reynolds | Bloomberg | Getty Images
Data from FactSet highlights Nvidia as the sixth-largest investor in SpaceX. Unsurprisingly, Elon Musk remains the dominant owner with an estimated $850 billion stake, followed by Alphabet with roughly $78 billion.
The roots of Nvidia's SpaceX shares trace back to its substantial $10 billion investment in xAI, Musk's artificial intelligence startup, as part of a larger $20 billion funding round in January. SpaceX later acquired xAI in February in a deal valued at a staggering $1.25 trillion.
Further solidifying the strategic alliance, Elon Musk announced during SpaceX's second-quarter earnings call earlier this month that the company plans to exclusively integrate Nvidia's advanced AI chips into its data centers. Musk praised Nvidia's graphics processing units (GPUs) for their "best architecture" in training and inference of AI models, along with related products and services. He also expressed expectations for SpaceX to receive a "significant allocation" of Nvidia's next-generation Vera Rubin GPUs in the coming year.
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