Nvidia 13F: $21 billion in SpaceX, $30 billion in Intel
Nvidia's latest SEC filing reveals an equity portfolio of more than $60 billion — dominated by a new SpaceX stake and a halved Intel position.
Illustration · AI-generated (AI IN LIFE)
At a glance
- Nvidia's 13F filing shows a SpaceX stake worth roughly $21 billion.
- The Intel position stands at about $30 billion — roughly halved quarter-over-quarter.
- The total disclosed equity portfolio exceeds $60 billion.
- Reports describe SpaceX as an exclusive buyer of Nvidia accelerators for its AI infrastructure.
- Critics warn of circular financing between Nvidia and its largest customers.
Nvidia's latest 13F filing with the US Securities and Exchange Commission discloses the full scale of its investment strategy for the first time. The chipmaker holds a stake in SpaceX worth roughly $21 billion and Intel shares worth about $30 billion. Together with smaller positions, the disclosed portfolio exceeds $60 billion.
The SpaceX position is new and highly concentrated. According to reports, it stems from an agreement under which SpaceX relies exclusively on Nvidia accelerators for its AI and satellite infrastructure. Within a short time, a chip deal has turned into one of the largest single stakes in the technology sector.
The Intel position tells its own story: Nvidia roughly halved its holding compared with the previous quarter but remains the rival's largest strategic anchor investor at around $30 billion. The filing thus shows both profit-taking on Intel and a new bet on SpaceX.
For the market, the 13F illustrates how much Nvidia now acts as a financial investor in its own ecosystem: the company takes stakes in its biggest customers, securing long-term demand for its chips. Critics see circular financing that makes real AI demand harder to read.
Separately, Nvidia was reported to have reduced its backstop commitment for OpenAI's data-center site in Ohio — a sign the company is actively reshuffling risk in its infrastructure business.
FAQ
What is a 13F filing?
A quarterly disclosure that large institutional investors must file with the SEC, revealing their US equity holdings.
Why does Nvidia invest in its own customers?
Stakes in major buyers such as SpaceX or Intel secure long-term chip demand and strategic influence — but carry the risk of circular financing.
What does the halved Intel position mean?
Nvidia took profits but remains Intel's largest strategic investor. A full exit is not on the horizon.
