Nvidia's SpaceX bet: Chipmaker discloses $21 billion stake in Elon Musk-owned rocket firm

Nvidia’s financial ties with Elon Musk’s SpaceX have come into focus after the chipmaking giant disclosed that it owns nearly 123 million shares in the rocket company. The stake was worth almost $21 billion at the end of June, but has since fallen to about $17 billion as SpaceX shares dropped sharply following its June initial public offering.

The disclosure also sheds light on Nvidia’s investment in xAI, which was completed in January, shortly before Musk combined the AI lab with SpaceX.