Nvidia's Hidden Stakes: Chipmaker Invests Big in SpaceX and Intel

Nvidia's recent financial disclosures have revealed significant stakes in two major companies: SpaceX and Intel. The chipmaker owns nearly 123 million shares in SpaceX, valued at approximately $21 billion as of June 30.

This investment did not start as a straightforward purchase of stock. Nvidia invested in xAI, which raised $20 billion in an upsized Series E round in January. However, the structure changed when SpaceX acquired xAI, and Nvidia's shares converted into SpaceX Class A shares at a set exchange ratio.

Nvidia also has a significant stake in Intel, with 30 billion dollars' worth of shares as of June 30. This investment is part of a broader deal between Nvidia and Intel, which includes the development of custom x86 CPUs for data centers and system-on-chips that pair Intel CPUs with Nvidia RTX GPU chiplets for PCs.

Jensen Huang described this opportunity as a $25 billion to $50 billion annual chance, highlighting Nvidia's desire to integrate its graphics into Intel's PC market.