An investment Nvidia made to prop up a struggling rival has quietly become one of its biggest wins. The company’s quarterly holdings filing shows its Intel position, built from a $5B investment last year, was worth about $30B on June 30, roughly triple the $9.5B value it carried three months earlier.
The two companies also agreed to co-develop chips for PCs and data centers when the original investment was made. The 13F covering the quarter ended June 30, released August 14, additionally put a first-time valuation on Nvidia’s SpaceX holding, counted at about 122.8 million shares and worth roughly $21B.
That makes the rocket company Nvidia’s second-largest equity position. Smaller stakes disclosed in the same filing include Coherent, Generate Biomedicines, Nebius Group, Nokia and Synopsys.
The SpaceX stake grew out of Nvidia’s 2025 backing of Musk’s xAI, which was later folded into the rocket maker. That financing ran as high as $2B and was tied to a vehicle set up to buy Nvidia processors for xAI’s computing projects.
Seen together, the holdings show Nvidia leaning on its balance sheet to strengthen bonds with firms that purchase its silicon or move it into new markets.
