Nvidia filed a regulatory disclosure on Friday showing a $21 billion position in SpaceX and a $30 billion position in Intel as of June 30, putting the chipmaker's combined stake in the two companies above $50 billion. The filing marks the first time Nvidia has assigned a dollar value to its SpaceX shares since Elon Musk's artificial intelligence venture xAI was folded into the rocket company ahead of its public debut earlier this year.

The SpaceX position traces back to xAI

Nvidia held 122.8 million SpaceX shares at the end of June. The stake originates from a 2025 financing in which Nvidia committed as much as $2 billion to xAI through a special purpose vehicle structured to purchase Nvidia processors for the startup's computing infrastructure. When xAI was absorbed into SpaceX this year, that equity converted into shares of the combined entity, giving Nvidia a direct slice of Musk's space and AI ambitions.

Intel stake has more than tripled in three months

The Intel holding, 214.8 million shares valued at roughly $30 billion, has surged from about $9.5 billion just three months earlier, according to prior filings. Nvidia originally agreed to invest $5 billion in Intel last year, framing the deal as a co-development partnership for personal computer and data center chips. At the time the move was read as a lifeline for a struggling rival; the paper gain since then has turned it into one of Nvidia's most profitable financial bets.

A portfolio of strategic minorities

Beyond the two headline positions, the June 30 filing shows Nvidia also held equity in Coherent, Generate Biomedicines, Nebius Group, Nokia, and Synopsys. The collection reads less like a passive investment portfolio and more like a map of supply-chain dependencies and compute-adjacent bets the company has accumulated while building out its AI ecosystem.

What the numbers don't say

The filing captures a snapshot, not a strategy. It does not reveal whether Nvidia has hedged, sold calls, or layered debt against any of these positions. It also does not capture any changes after June 30. With Intel shares volatile and SpaceX still closely held, the next quarterly update may tell a very different story.