New 13-F and 13-G filings show Nvidia, Alphabet and Saudi Arabia's Public Investment Fund hold billions of dollars in SpaceX stock, filings that surfaced as SpaceX shares climb back above their IPO price. The disclosures come as SpaceX works through a staggered post-IPO lockup and expands into AI infrastructure and enterprise software.
Filings reveal billion-dollar SpaceX stakes
Regulatory filings released late last week showed how much money major investors had tied up in SpaceX as of June 30. Alphabet owns about 7.2% of SpaceX's outstanding shares as of that date, according to an Aug. 14 filing.
Nvidia, which works closely with Elon Musk and SpaceX, owned $21 billion worth of SpaceX shares at the end of last quarter. Saudi Arabia's Public Investment Fund disclosed a $26.3 billion stake as of June 30, an amount that qualifies as an equity stake in the company. Peter Thiel, an early SpaceX investor dating to 2008, disclosed a 5.5% stake through funds tied to his Founders Fund. Harvard's endowment held $2.2 billion worth of SpaceX shares at the end of the second quarter.
Stock climbs back above IPO price as lockup unwinds
Most insider shares remain subject to a staggered lockup schedule. The first release occurred on Aug. 6, two days after SpaceX reported second-quarter earnings, and the second is expected around Aug. 21, according to RBC analysts.
Early investors saw large paper gains after the IPO, but the ride since then has been volatile. At their high, SpaceX shares traded 67% above June's $135 IPO price; at their low, they traded 22% below it. Now the stock is climbing back, changing hands at $147 on Monday, up 5% on the day.
Analysts point to AI token demand and the Cursor deal
UBS analysts led by John Hodulik wrote that the stock is likely to continue trading on demand for tokens, pointing to SpaceX's frontier AI model and its role as a computing-power provider. Hodulik rates the stock a buy with a $210 price target.
SpaceX last week unveiled Grok 4.6, which is roughly on par with OpenAI's GPT-5.6 Sol but not as strong as Anthropic's top Claude models. According to Artificial Analysis, it costs about 60% less to buy 1 million tokens with Grok 4.6 than with leading rival models. Musk said Monday on X: "Token demand is rising super fast."
On Friday, SpaceX closed its $60 billion acquisition of Cursor, an AI-coding startup. Deutsche Bank analyst Edison Yu said the deal will help expand SpaceX's reach to enterprise customers, an area where it stands well below Anthropic and OpenAI, and rates the stock a buy with a $235-per-share price target.
Source: MarketWatch
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