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Nvidia (NVDA) disclosed a substantial new stake in SpaceX (SPCX) in its latest 13F filing, revealing ownership of roughly 122.76 million SPCX shares as of the end of the second quarter, led by CEO Jensen Huang's investment strategy. The position stems from Nvidia's earlier bet on xAI, which SpaceX absorbed through its February acquisition, ahead of SpaceX's blockbuster Nasdaq debut in June, which raised nearly $85.7 billion, including $10.7 billion from underwriters exercising their options, making it the largest IPO in history.
Beyond SpaceX, Nvidia's portfolio remains heavily concentrated in AI and semiconductor names: it held its Intel (INTC) stake steady at 214.78 million shares, maintained a 166.39 million-share position in Nokia (NOK), and kept smaller holdings in CoreWeave (CRWV), Coherent (COHR), Generate Biomedicines (GENB), Nebius (NBIS), and Synopsys (SNPS), underscoring Nvidia's expanding footprint across the AI supply chain and its deepening financial ties to Elon Musk's space and AI ventures.
About NVDA Stock
Nvidia Corporation is the world's dominant AI chipmaker, headquartered in Santa Clara, California. Under CEO Jensen Huang, Nvidia designs GPUs and full AI-factory infrastructure powering data centers, gaming, robotics, and autonomous vehicles, commanding an estimated 70-80% share of the booming AI accelerator market through its Blackwell and upcoming Vera Rubin platforms.
NVDA stock trades near $225, close to its 52-week high of $236.54 and far above its 52-week low of $164.07, having climbed roughly 21% over the past year. Shares remain near record territory ahead of Nvidia's next earnings report on Aug. 26, buoyed by insatiable AI infrastructure demand.
By comparison, the S&P 500 Information Technology Sector Index ($SRIT) has done just about as well, up about 21% year-to-date (YTD), almost matching NVDA's 18% YTD, both fueled heavily by AI growth.
Nvidia Q1 Results
Nvidia's most recent quarter, Q1 fiscal 2027, delivered record revenue of $81.6 billion, up 85% year-over-year (YoY) and topping the roughly $78.9 billion analyst consensus. Non-GAAP EPS reached $1.87, beating the $1.75 estimate.
Data Center revenue surged 92% to $75.2 billion, comprising 87% of total sales. GAAP net income more than tripled to $58.3 billion, while gross margin held near 75%, and Nvidia returned nearly $20 billion to shareholders through buybacks and dividends.
Management guided Q2 revenue to approximately $91 billion, above the Street's $86.8 billion estimate, and raised its quarterly dividend 25-fold to $0.25 per share. CEO Jensen Huang said the "agentic AI inflection point has arrived," with Blackwell and Vera Rubin poised to sustain hypergrowth ahead.
About SpaceX Stock
Space Exploration Technologies Corp., known as SpaceX, is Elon Musk's aerospace and technology giant headquartered in Starbase, Texas. The company operates through three segments: Space (reusable rockets and Starship), Connectivity (the Starlink satellite broadband network), and AI, following its 2026 acquisition of xAI and Grok.
SPCX stock has been volatile since its historic $75 billion IPO on June 12, 2026, which priced shares at $135. SPCX has traded between a 52-week low of $104.83 and a high of $225.64, recently changing hands around $140 after rebounding from a post-IPO low near $108.
By comparison, the S&P 500 Information Technology Sector Index's 21% YTD increase far outpaces SPCX's 18% decrease since its IPO opening price. That said, SPCX is up 16% in the past month, underscoring how SpaceX's sharp swings reflect its own unique growth-and-volatility story rather than broader consumer trends.
SpaceX Q2 Earnings
In its first earnings report as a public company, SpaceX posted Q2 2026 revenue of $7.81 billion, up 92% YoY and well above the $6.93 billion analyst estimate, though the company posted a GAAP net loss of $541 million.
Adjusted EBITDA jumped 191% to $3.5 billion. Connectivity revenue reached $4.3 billion with 1.7 million net Starlink subscriber additions, while the AI segment, powered by xAI's Grok models, surged 247% YoY to $2.6 billion amid heavy infrastructure spending.
Management projects a $100 billion annualized revenue run rate by year-end 2026 and now targets $1 trillion in cumulative revenue by 2030, a year earlier than previously forecast, citing Starship progress, Starlink expansion, and accelerating AI data center buildout.
NVDA vs. SPCX: Which AI Stock Has More Upside?
Nvidia's newly disclosed 122.76 million-share stake in SpaceX highlights just how intertwined the two AI powerhouses have become. Wall Street favors both, though with different conviction. NVDA holds a near-unanimous "Strong Buy" consensus from 47 analysts, with 43 "Strong Buy" calls and a mean target of $304.32, implying 38% upside. SPCX carries a "Moderate Buy" rating from 34 analysts, with 23 "Strong Buy" calls and an average target of $222.16, implying a steeper 55% potential gain. Thus, NVDA has less risky growth potential, but SPCX's overall upside is greater. Yet so is its volatility.
Together, they offer investors two distinct ways to bet on the accelerating AI and space economy boom.
