Harvard also recently reported a $2.2 billion stake in SpaceX #
Nvidia disclosed in a 14th August regulatory filing that it owned 122.76 million class A shares of SpaceX worth close to $21 billion at the end of June. Nvidia's massive stake makes Elon Musk's rocket company the second-largest reported stock holding in its portfolio at the end of Q2, behind its investment in Intel. Nvidia owned 214.77 million Intel shares valued at $29.9 billion, per the filing.
Note that Nvidia's SpaceX holdings came from its earlier investment in Musk's AI venture xAI. The chipmaker invested $10 billion in xAI as part of a $20 billion funding round in January, and SpaceX subsequently acquired xAI next month in a $1.25 trillion transaction.
Nvidia and SpaceX are now bolstering their commercial partnerships around AI infrastructure. Musk said during SpaceX's Q2 earnings call earlier this month that the company would exclusively use Nvidia chips in its AI data centres and for training its AI models.
Musk had also stated that SpaceX expects to receive a considerable allocation of Nvidia's Vera Rubin GPUs next year.
Alphabet's SpaceX Bet Grows 100X #
However, Google's parent company Alphabet disclosed a stake in SpaceX of 551.18 million shares, valued at $94.17 billion at the end of Q2. In 2015, Alphabet co-participated with Fidelity in a funding round to invest $900 million in SpaceX, implying a growth of over 100 times its original investment.
Alphabet now tops the disclosed institutional ownership table for SpaceX. Gigafund Management owned around 171.8 million SpaceX shares. Other investors like Baillie Gifford owned 51.4 million SpaceX shares, while BlackRock and Ontario Teachers' Pension Plan owned 51 million and 50.7 million shares, respectively.
Harvard Makes $2.2 Billion SpaceX Bet #
Harvard University's investment arm, Harvard Management Company, recently reported a $4.3 billion portfolio of US stocks. The filing also revealed a massive $2.2 billion stake in SpaceX.
The investment reflects how SpaceX's June IPO delivered a major boost for university endowments that gained exposure to the company via venture capital investments, in some cases more than 10 years ago.
Even the University of California's investment branch disclosed a position in SpaceX worth nearly $1 billion in a filing this week, while the University of North Carolina and Washington University in St. Louis also held investments in the rocket company.
The gains arrive as university finances face mounting pressure from uncertainty over federal research funding, demographic changes that are reducing the pool of college-age students, as well as weaker returns from private equity. However, large university endowments have delivered robust recent performance.
Endowment funds managing over $500 million returned a median 18.9% before fees in the year ended in June, according to the Wilshire Trust Universe Comparison Service.
The SpaceX stock gained 1.2% during Monday premarket hours to around $141.77 per share, valuing the company at over $1.8 trillion. The stock has faced extreme volatility since its June IPO when it reached an all-time high of $225.64 per share. However, shares appear to be steadily rebounding from an all-time low of $106.66 on 5th August.
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