Nvidia (NASDAQ: NVDA) isn’t just the world’s largest company and a leader in accelerated computing; it also has a significant investment portfolio.
As of June 30, the value of Nvidia’s equity investment portfolio totaled $63.4 billion
A majority of companies in the S&P 500 have market caps smaller than that stock portfolio, a fact that highlights just how much money Nvidia is investing in companies that it believes in and interacts with. However, Nvidia’s portfolio is far from diversified. It has significant concentrations in a handful of stocks, and its second-largest holding may come as a surprise to some investors: Space Exploration Technologies (NASDAQ: SPCX), better known as SpaceX.
SpaceX and Nvidia may seem like an odd pairing at first glance, but the more you dig into SpaceX’s whole operation, the more the investment makes sense. SpaceX is also an AI company In January, Nvidia invested $10 billion into xAI during a private funding round. Then in February, SpaceX fully acquired xAI, bringing products like Grok and the social media platform X under its umbrella.