Alphabet reports $94B stake in SpaceX after rocket company’s IPO

Alphabet’s equity holdings now include a SpaceX position worth approximately $94.1 billion following SpaceX’s initial public offering in June 2026, which valued the aerospace giant at roughly $1.77 trillion. Alphabet originally invested about $900 million in SpaceX back in 2015, when the company was valued at around $12 billion. The 2015 investment secured Alphabet a stake estimated between 7% and 7.4% of SpaceX. By the end of 2025, that ownership had diluted slightly to around 6% as SpaceX raised additional capital through subsequent funding rounds. A year before the IPO, the company was valued at approximately $400 billion. Alphabet’s reported $94.1 billion holding aligns closely with a 6% stake based on post-IPO valuations near $1.57 trillion. In Q2 2026 alone, Alphabet recorded $99 billion in unrealized and realized gains from its equity securities, with a significant portion coming from AI-related investments, with SpaceX and Anthropic being the headline contributors. After taxes, those gains added $77.1 billion to Alphabet’s net income. Alphabet has been playing both sides of this trade. Its investment in Anthropic, the AI safety company behind Claude, sits alongside the Spac...