NVIDIA has quietly become one of SpaceX's largest outside shareholders. A Form 13F filed with the U.S. Securities and Exchange Commission and disclosed on August 14, 2026 lists the chipmaker as the holder of 122.8 million Class A shares of Space Exploration Technologies, a position valued at roughly $21 billion at the end of the second quarter.
How A GPU Company Became A SpaceX Whale
The stake did not come from a direct check. NVIDIA received the SpaceX shares through its earlier $5 billion investment in xAI, which Elon Musk's rocket company acquired in February 2026 in an all-stock deal that folded the AI startup into the SpaceX cap table. That single conversion turned a strategic GPU-buyer relationship into an equity position that now trails only NVIDIA's holdings in Intel, which the company disclosed after participating in Intel's $20 billion common-stock offering earlier in the month.
Deep Ties Across Data Centers And Rockets
The disclosure is not a purely financial story. NVIDIA and SpaceX have been steadily wiring their infrastructure together across data centers, satellites, and launch cadence. SpaceX has committed to NVIDIA's Vera Rubin architecture for its next-generation Starmind data centers and is expected to receive a significant chip allocation in 2027, while Starlink continues to serve as the connectivity backbone for many NVIDIA-hosted training runs at the network edge.
Volatility After The Public Debut
The value of the position has swung since the quarter closed. SpaceX shares traded at $170.86 at the end of June but slid to about $140 in mid-August, pulling NVIDIA's holding down to roughly $17.2 billion on paper. That drawdown mirrors a broader cooling in richly valued AI-adjacent names, but underscores how a filing snapshot can lag reality in a fast-moving market.
What The Filing Signals
For investors, the 13F reframes how to read NVIDIA's balance sheet: the company is no longer just a chip supplier to the AI economy, it is a large equity holder in two of its most strategic customers. Combined with a $6 billion licensing deal with Poolside and the Marvell-Google TPU dynamics reshaping custom silicon, the SpaceX disclosure caps a month in which the boundaries between AI hardware, cloud infrastructure, and space were visibly redrawn.
Reporting based on coverage from CNBC, GuruFocus and SEC filings.