Nvidia’s $21B SpaceX Stake Fuels AI Infrastructure Growth

Nvidia revealed a substantial $21 billion stake in Elon Musk’s SpaceX at the close of the second quarter of 2026, holding 122.8 million Class A shares. This disclosure, made in a regulatory filing on August 14, highlights Nvidia’s increasing financial involvement with companies at the forefront of artificial intelligence.

• SpaceX stake value (Q2 2026): $21 billion
• Class A shares held: 122.8 million
• Share price basis (end of June): $170.86
• Current estimated value: Approximately $17.2 billion

The valuation reflects SpaceX’s share price of $170.86 at the end of June. However, the current estimated value has seen a reduction to approximately $17.2 billion due to market volatility since SpaceX went public in June.

Investment Origins and Portfolio Standing

This SpaceX holding represents Nvidia’s second-largest reported equity stake at the quarter’s end. It follows a significant $30 billion investment in Intel, which remains Nvidia’s largest equity holding.

• Original source of shares: Nvidia’s $10 billion investment in xAI
• xAI acquisition by SpaceX: February, in a $1.25 trillion transaction
• Nvidia’s largest equity holding: $30 billion in Intel

The conversion of Nvidia’s xAI exposure into a stake in the combined SpaceX entity underscores a strategic pivot rather than an entirely new investment post-listing.

Deepening AI Infrastructure Partnership

The financial investment coincides with a strengthening commercial relationship between Nvidia and SpaceX concerning AI infrastructure. Elon Musk confirmed that SpaceX intends to exclusively utilize Nvidia chips in its AI data centers.

• SpaceX’s chip choice: Exclusively Nvidia chips
• Purpose: AI data centers and training AI models
• Future allocation: Expects substantial Vera Rubin GPUs next year

This strategic alignment solidifies Nvidia’s position as a critical supplier to Musk’s expanding operations across artificial intelligence and computing sectors.