Nvidia discloses $21B stake in SpaceX

英伟达披露持有 SpaceX 210 亿美元股份

Nvidia has disclosed that it owns nearly 123 million shares in SpaceX, further highlighting the chipmaker’s entangled financial relationships with some of its biggest customers. The $5.5 trillion company owned SpaceX stock worth nearly $21 billion at the end of June, according to an SEC filing on Friday. 英伟达披露其持有 SpaceX 近 1.23 亿股股票，这进一步凸显了这家芯片制造商与其部分最大客户之间错综复杂的财务关系。根据周五提交给美国证券交易委员会（SEC）的文件，截至 6 月底，这家市值 5.5 万亿美元的公司所持有的 SpaceX 股票价值近 210 亿美元。

Elon Musk’s rocket conglomerate’s shares have fallen sharply since its June initial public offering, meaning Nvidia’s stake would now be worth $17 billion. The disclosure marks a huge pay-off on Nvidia’s investment in xAI, completed in January, shortly before Musk combined the AI lab with SpaceX. 埃隆·马斯克（Elon Musk）旗下的这家火箭企业集团自 6 月首次公开募股（IPO）以来，股价已大幅下跌，这意味着英伟达目前的持股价值约为 170 亿美元。此次披露标志着英伟达在 1 月份完成的对 xAI 投资获得了巨大回报，当时距离马斯克将该人工智能实验室与 SpaceX 合并仅过去不久。

It underscores the scale of Nvidia chief Jensen Huang’s effort to use the financial power of the world’s most valuable company to forge complex and often circular financial links across the AI industry, including with some of his largest customers. Nvidia did not immediately respond to a request for comment. 这凸显了英伟达首席执行官黄仁勋（Jensen Huang）的努力规模，他利用这家全球市值最高公司的财务实力，在整个 AI 行业建立起复杂且往往是循环的财务联系，其中包括与他的一些最大客户之间的联系。英伟达未立即回应置评请求。

Musk, during SpaceX’s first public earnings call last week, said the company had an exclusive relationship with Nvidia to kit out its data centers. “We’ve decided to build exclusively on Nvidia because we think [its] Vera Rubin architecture is the best architecture,” he said. “We think it’s the best AI computer and we greatly value our close co-operation and partnership on many levels with Nvidia.” 马斯克在上周 SpaceX 的首次公开财报电话会议上表示，该公司与英伟达建立了独家合作关系，为其数据中心提供设备。“我们决定完全基于英伟达进行构建，因为我们认为其 Vera Rubin 架构是最好的架构，”他说道，“我们认为这是最好的 AI 计算机，我们非常重视与英伟达在多个层面的密切合作与伙伴关系。”

Nvidia has committed more than $100 billion to AI companies in the past two years, with sizeable investments in cloud computing start-ups such as CoreWeave and AI labs including Thinking Machines and Safe Superintelligence. It has also invested in Cursor, the code-editing start-up that SpaceX acquired for $60 billion this week. 在过去两年中，英伟达已向 AI 公司投入了超过 1000 亿美元，对 CoreWeave 等云计算初创公司以及 Thinking Machines 和 Safe Superintelligence 等 AI 实验室进行了大规模投资。它还投资了代码编辑初创公司 Cursor，该公司本周被 SpaceX 以 600 亿美元收购。

This week, Nvidia disclosed plans to put together more than $500 billion from a consortium of investors, including Apollo Global, Blackstone, BlackRock, Brookfield Asset Management, Goldman Sachs, and KKR to help finance its customers. Nvidia plans to partially guarantee loans from the Wall Street investors that are backed by the value of its chips. 本周，英伟达披露了计划从包括阿波罗全球管理公司（Apollo Global）、黑石集团（Blackstone）、贝莱德（BlackRock）、布鲁克菲尔德资产管理公司（Brookfield Asset Management）、高盛（Goldman Sachs）和 KKR 在内的投资者财团筹集超过 5000 亿美元，以帮助为其客户提供融资。英伟达计划为这些华尔街投资者提供的、以其芯片价值为担保的贷款提供部分担保。

Nvidia’s largesse has helped accelerate the building of AI infrastructure and binds parts of the industry more tightly to the chipmaker’s technology. SpaceX is planning to increase its computing capacity from 2 gigawatts at the end of this year to “closer to 10GW [than 5GW]” by the end of 2027, Musk told investors last week. 英伟达的慷慨解囊有助于加速 AI 基础设施的建设，并将行业的部分环节更紧密地与该芯片制造商的技术绑定在一起。马斯克上周告诉投资者，SpaceX 计划将其计算能力从今年年底的 2 吉瓦（GW）提高到 2027 年底的“接近 10 吉瓦（而非 5 吉瓦）”。

The rocket maker’s IPO handed huge returns to its early backers. Google owns roughly 7 percent of the rocket maker, according to FactSet data, having originally invested $900 million in 2015. The search giant told investors in July that its stake was valued at about $94 billion. 这家火箭制造商的 IPO 为其早期支持者带来了巨额回报。根据 FactSet 的数据，谷歌持有该公司约 7% 的股份，其最初于 2015 年投资了 9 亿美元。这家搜索巨头在 7 月份告诉投资者，其持股价值约为 940 亿美元。