AMD’s $566 Million SpaceX Stake Raises a Bigger Question Than AI Chip Orders

Every August, Wall Street gets a caller batch of 13F filings -- and a glimpse into what immoderate of the world's biggest investors were buying 3 months earlier. This year's filings offered thing much unusual: a look astatine who owned SpaceX (NASDAQ:SPCX) aft its blockbuster June IPO.

The database included immoderate evident names. Alphabet (NASDAQ:GOOG) had a monolithic presumption built implicit years. Nvidia (NASDAQ:NVDA) held a involvement tied to its AI ambitions. Then determination was Advanced Micro Devices (NASDAQ:AMD), which revealed astir 3.3 cardinal SpaceX shares worthy much than $565 million.

That would beryllium absorbing capable connected its own, but there's a wrinkle: Just 2 months earlier SpaceX's IPO, Elon Musk said the company's AI infrastructure would beryllium built exclusively connected Nvidia chips.

So wherefore is AMD putting much than fractional a cardinal dollars into a institution that appears to person chosen its biggest rival?

The Filing, successful Plain Numbers

SpaceX priced 555.6 cardinal Class A shares astatine $135 apiece successful its June 12 IPO, raising astir $75 billion. The offering besides brought antecedently backstage holdings into the spotlight done mandatory 13F filings.

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Nvidia's involvement traces backmost to its $10 cardinal concern successful xAI, which SpaceX subsequently acquired successful aboriginal 2026. The commercialized transportation is obvious. AMD's presumption is acold smaller and lacks an evident chip-sales connection. That's what makes it interesting.