Nvidia has reportedly disclosed ownership of 122.8 million Class A shares in SpaceX, a position that, if confirmed at recent trading levels, would represent a multi-billion-dollar bet on Elon Musk’s aerospace and AI infrastructure company.
The reported stake comes months after SpaceX went public on June 12, 2026, pricing its IPO at $135 per share. At that valuation, a 122.8 million share position would have been worth roughly $16.6B at the offering price, though SpaceX shares have drifted lower since the listing amid share unlock events and concerns about capital expenditure.
A partnership that runs deeper than equity
Whether or not the precise share count holds up to scrutiny, the commercial relationship between Nvidia and SpaceX is very much real and very much accelerating.
Elon Musk announced during a recent earnings call that all future AI services from SpaceX will run exclusively on Nvidia hardware.
Nvidia’s stock climbed over 4% on August 5, 2026, following announcements about SpaceX’s exclusive chip commitments.
SpaceX’s infrastructure grids, which power everything from satellite communications to AI-driven operations, rely heavily on Nvidia’s GPU architecture.
SpaceX’s post-IPO reality check
SpaceX’s public market debut was one of the most anticipated listings of 2026. At $135 per share, the company commanded an enormous valuation that reflected both its dominance in the launch market and investor enthusiasm for its AI ambitions.
Share prices have softened in the weeks since the IPO, pressured by two familiar forces: insider share unlocks flooding the market with new supply, and investor anxiety over the sheer scale of capital SpaceX needs to deploy across its Starlink constellation, Starship program, and expanding AI infrastructure.
Why Nvidia’s SpaceX exposure matters
For Nvidia, a large equity position in SpaceX would represent something unusual: a major chipmaker holding a significant stake in one of its biggest customers.
The next round of SEC filings should provide clearer visibility into the exact size and structure of any Nvidia holdings in SpaceX, along with how the position is being accounted for on Nvidia’s books.