For the better part of the last four years, the artificial intelligence (AI) revolution has ruled the roost on Wall Street. Empowering software and systems with the tools to make split-second, autonomous decisions is an estimated $15.7 trillion addressable opportunity by 2030
Nvidia (NASDAQ: NVDA) has led the way. Its graphics processing units (GPUs) are the brains of AI-accelerated data centers, and no company is particularly close to matching the compute capabilities of its hardware.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a “Double Down” signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same “Total Conviction” signal is flashing for a company 1/100th the size of Nvidia. Continue »
But <a href="https://bitcomme.com/what-it-is-and-techniques-to-adopt/” title=”What It Is and Techniques to Adopt”>what you may not realize is that Wall Street’s largest publicly traded company is also an investor.
Just like institutional investors, companies with at least $100 million in assets under management are required to file Form 13F with regulators no later than 45 calendar days after the end of a quarter. Nvidia’s latest 13F, detailing second-quarter investment activity for its $63.4 billion portfolio, revealed a new No. 2 holding: Elon Musk’s Space Exploration Technologies (SpaceX) (NASDAQ: SPCX).
SpaceX is now Nvidia’s second-largest public investment
According to a person familiar with the matter, per CNBC, Nvidia invested roughly $10 billion in xAI in January 2026, as part of a $20 billion funding round for the AI start-up. SpaceX acquired xAI shortly thereafter.
When SpaceX went public on June 12 in Wall Street’s largest-ever initial public offering (IPO), it meant that Nvidia would now need to report its stake in the company on its quarterly 13F. This position, 122,764,805 shares of SpaceX, was worth nearly $21 billion at the end of June. Only Nvidia’s stake in chipmaker Intel is worth more.
Although the initial buzz from SpaceX’s IPO was unlike anything we’d ever seen, reality is starting to bite for Nvidia’s new No. 2 holding.
Despite a 92% increase in second-quarter sales, SpaceX reported a hefty loss and eye-popping capital expenditures (capex) for its data center segment. Through the first six months of 2026, AI capex has vaulted from $3.32 billion last year to $23.55 billion this year. Musk’s company is burning cash at an alarming rate and is expected to lean on potentially dilutive financing rounds to make up for it.
Furthermore, SpaceX has one of Wall Street’s more unique lockup periods, and it’s not exactly shareholder-friendly. Whereas most newly public companies prevent insiders (high-ranking executives, board members, and early investors) from selling their stock for 180 calendar days after the IPO, SpaceX’s unlock schedule is accelerated and staggered. Several event- and time-based unlocks occur that can dramatically increase the float and weigh on SpaceX’s shares.
