Nvidia recently disclosed that they hold nearly 123 million shares in SpaceX valued at around $21 billion at the end of the second quarter, pointing to increasingly deeper ties between these companies.
In a Security and Exchange Commission (SEC) filing, Nvidia revealed its stake, worth approximately $17 billion. SpaceX’s share value has fallen sharply since its June IPO.
Nvidia invested $10 billion in xAI as part of a $20 billion funding round at the start of the year, around a month after Musk folded the AI company into SpaceX in a $1.25 trillion deal.
The disclosure provides more evidence of a deep relationship between the pair.
When SpaceX released its Q2 earnings at the start of August, Musk announced it had struck an exclusive deal with Nvidia to build out its data centres on the AI company’s Vera Rubin architecture.
“We think it’s the best AI computer and we greatly value our close cooperation and partnership and many levels with Nvidia”, he said on an earnings call.
For Nvidia, the holding underlines a push by CEO Jensen Huang to make investments in companies across the AI ecosystem. Financial Times reported it has invested more than $100 billion in AI companies, making sizeable punts into cloud computing startups including CoreWeave and AI labs including Thinking Machines.
It has also invested in Cursor, an AI startup acquired by SpaceX for $60 billion last week.
In the filing, Nvidia also disclosed it holds around 214 million shares in Intel, worth around $29 billion.
Source: Mobile World Live
Image Credit: Nvidia
Source: Tahawul Tech