NVIDIA Corporation (NVDA.US) disclosed last Friday (14th) that its stake in Space Exploration Technologies Corp. (SPCX.US), owned by Elon Musk, was valued at approximately USD21 billion, as of the end of 2Q.
In a filing submitted to the US Securities and Exchange Commission, the chipmaker said it held 122.8 million Class A shares of SpaceX, which completed its public market debut in June.
SpaceX shares closed at USD140 on Friday, down from USD170.86 at the end of June, reducing the value of NVIDIA's holdings to approximately USD17.2 billion.
This is NVIDIA's second-largest holding after its stake in Intel Corporation (INTC.US), which is currently valued at about USD22 billion, down from USD30 billion at the end of the quarter. The investment, held for less than a year, generated substantial returns compared with NVIDIA's USD5 billion investment cost.
According to FactSet data, NVIDIA is the sixth-largest investor in SpaceX. Musk is the largest shareholder, with holdings valued at about USD850 billion. Alphabet Inc. (GOOGL.US) ranks second with a stake worth about USD78 billion.
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AASTOCKS Financial News
Website: www.aastocks.com
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