Nvidia disclosed a $21 billion stake in SpaceX as of end of Q2, holding 122.8 million Class A shares in Musk's rocket company. The stake came through Nvidia's $10 billion investment in Musk's xAI (part of a $20 billion round in January), which SpaceX subsequently acquired in February for a deal valued at $1.25 trillion. Nvidia's $5 billion xAI investment has already more than quadrupled in paper gains through the xAI→SpaceX transaction.
As of Friday's close at $140 per share, Nvidia's SpaceX holding is now worth $17.2 billion—down from $21 billion at quarter-end as SpaceX stock has declined 18% from its June IPO price of $170.86. Nvidia is SpaceX's sixth-largest investor by stake size; Musk holds about $850 billion in SpaceX equity.
SpaceX's Q2 earnings call confirmed Nvidia GPU exclusivity: Musk stated SpaceX will exclusively use Nvidia chips in its AI data centers and expects to receive a "significant allocation" of Nvidia's Vera Rubin GPUs in 2027. For practitioners, this locks enterprise GPU demand into Nvidia's roadmap and validates the GPU-for-AI-infrastructure bet—though the volatility in SpaceX's trading price now creates mark-to-market risk for Nvidia's disclosed positions.