Nvidia’s SpaceX NVDA portfolio return 2030 story starts with one number: roughly 122.8 million shares of Space Exploration Technologies stock worth about $18 billion. The position surfaced in Nvidia’s second-quarter results and 13F filing at the end of August, putting SpaceX behind Intel and ahead of CoreWeave in Nvidia’s disclosed holdings.
That size makes SpaceX Nvidia’s second-largest holding and turns the stake into more than a paper line item. It sits inside a portfolio where Jensen Huang has backed a company that Elon Musk says will buy Nvidia’s own processors.
SpaceX and Nvidia holdings
The stake traces back to a prior investment in XAI that was folded into SpaceX, a detail that matters because it ties the holding to Nvidia’s wider pattern of investing where it already has customer relationships and partnerships. SpaceX is also one of Nvidia’s biggest customers, so the disclosed position links ownership and demand in the same direction.
SpaceX’s latest numbers explain why that relationship is more than symbolic. Revenue rose 161% year over year in the third quarter to $14.6 billion, while the super intelligence segment increased 830% year over year to $7.56 billion and accounted for over half of sales in the period. The connectivity segment recorded sales of $5.25 billion, and the space segment recorded sales of $1.77 billion.
Elon Musk on GPUs
On SpaceX’s Q3 conference call, Musk said his company’s data centers will be exclusively using Nvidia’s processors. He later announced on Oct. 25 that SpaceX had secured $40 billion in debt financing to purchase graphics processing units, and he expects the GPUs to be delivered in the first half of 2027.
That leaves the practical takeaway for readers focused on the 2030 setup: Nvidia is not just holding a large stake in SpaceX, it is also positioning SpaceX as a future buyer of the chips that drive its AI business. The filing shows the ownership side today; the GPU plan shows where the spending side goes next.
XSI and the next step
The XAI unit has since been renamed XSI, but the structure of the investment still points to the same result: Nvidia now has a multibillion-dollar exposure to SpaceX while SpaceX is preparing to load up on Nvidia hardware. What the source does not show is the exact 2030 value of a $10,000 split between SpaceX and Nvidia, so the only hard number in view is the $18 billion stake already on Nvidia’s books.
