Nvidia's $10B xAI Bet Becomes a $21B SpaceX Stake

Nvidia's $10B xAI Bet Becomes a $21B SpaceX Stake — With $30B in Intel on Top

Nvidia held SpaceX shares worth about $21 billion at the end of the second quarter — a windfall that began as a $10 billion investment in Musk's AI startup xAI before it was folded into the rocket company — plus a $30 billion stake in Intel, new SEC filings reveal. The disclosures lay bare how the chip giant's investments now span the entire AI ecosystem.

Key Takeaways

Nvidia held SpaceX shares worth about $21 billion at the end of the second quarter — a windfall that began as a $10 billion investment in Musk's AI startup xAI before it was folded into the rocket company — plus a $30 billion stake in Intel, new SEC filings reveal.
The disclosures lay bare how the chip giant's investments now span the entire AI ecosystem.

AI synthesis4 sources3

Nvidia quietly holds one of the largest positions in Elon Musk's empire: SpaceX shares worth roughly $21 billion, according to a securities filing made public Friday. The chip giant also disclosed a $30 billion stake in Intel.

The numbers, reported by CNBC, Bloomberg and the Financial Times, come from Nvidia's latest 13F filing covering its holdings at the end of the second quarter. Nvidia held 122.8 million SpaceX shares worth about $21 billion as of the end of June.

The SpaceX stake is the transformed version of a $10 billion investment Nvidia made in xAI, Musk's artificial intelligence startup, in 2025. After Musk folded xAI into SpaceX in an all-stock combination, Nvidia's position became SpaceX equity — and the value roughly doubled, turning a chip-for-compute deal into a rocket fortune. The windfall illustrates how tightly the fortunes of AI hardware and Musk's companies have become intertwined: Nvidia is simultaneously SpaceX's largest AI-chip supplier and, through the stake, one of its notable investors.

Alongside the SpaceX disclosure, Nvidia revealed a $30 billion position in Intel shares, a holding that has grown as the U.S. chip champion pushes its foundry turnaround and courts AI customers.

The disclosures come as Nvidia, a company worth roughly $5.5 trillion, pours money across the AI stack — from chip design and data centers to equity stakes in startups, cloud providers and energy developers. The 13F filing offers a rare, concrete look at how the world's most valuable chip company is placing bets across the AI economy.