Nvidia discloses $21bn stake in SpaceX
Nvidia disclosed nearly 123mn SpaceX shares worth $21bn at end-June, acquired through its January xAI investment before xAI merged with SpaceX. The stake sits alongside more than $100bn of Nvidia investments in AI customers and a planned $500bn financing consortium backed partly by chip collateral.
Why it matters
This is not ordinary strategic investing: the dominant chip supplier is financing demand, taking equity in customers and helping lenders underwrite hardware. Dealroom should distinguish genuine external demand from ecosystem demand amplified by vendor capital.
Read the full article: Financial Times
