Nvidia Pours Billions into Elon Musk's SpaceX Amid AI Boom
Nvidia's $63 billion investment portfolio has made a significant change in its second-largest holding. The company, known for leading the way in artificial intelligence (AI), has invested heavily in various sectors to capitalize on the estimated $15.7 trillion addressable opportunity by 2030.
The AI revolution has been dominating Wall Street for four years now, with Nvidia's graphics processing units (GPUs) being the brains of AI-accelerated data centers. The company's latest 13F filing revealed a new No. 2 holding: Elon Musk's Space Exploration Technologies (SpaceX), worth nearly $21 billion at the end of June.
Nvidia invested approximately $10 billion in xAI in January 2026, which was later acquired by SpaceX as part of its $20 billion funding round. The initial public offering (IPO) of SpaceX on June 12 made it a publicly traded company, requiring Nvidia to report its stake on its quarterly 13F.
However, the outlook for SpaceX stock is uncertain due to significant losses and high capital expenditures in the data center segment. The company's unique lockup period and potential dilutive financing rounds have sparked concerns among investors.