business ๐ Nvidia's secret $21B SpaceX stake from AI bet
Nvidia quietly became a major shareholder in Elon Musk's SpaceX worth about $21 billion by Q2. This happened after Nvidia invested $10 billion into xAI's financing round back in January. When SpaceX acquired xAI in February, Nvidiaโs position converted into 122.8 million SpaceX shares. This investment now ranks as Nvidia's second-largest disclosed equity position after Intel. Musk confirmed SpaceX will build exclusively on Nvidia chips for its AI data centers.