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Musk recently showed off a close alliance... "Will only use Nvidia chips"
Concerns about circular trading are growing as it has been confirmed that Nvidia, a leader in artificial intelligence (AI) semiconductors, holds a large stake in Elon Musk's space company SpaceX.
According to a filing with the U.S. Securities and Exchange Commission (SEC) on the 15th (local time), Nvidia held approximately 122.8 million shares of SpaceX as of the end of the second quarter.
The value of these shares amounts to approximately $21 billion (about 29.8 trillion won), making it the second largest stake in a listed company held by Nvidia, after Intel ($30 billion).
Market research firm FactSet analyzed that Nvidia is the sixth largest shareholder of SpaceX.
Nvidia previously invested in Musk's AI company xAI (now SpaceXAI), and it appears that the investment stake was converted into SpaceX shares when SpaceX merged with xAI in February, ahead of its listing.
Concerns are growing in the market about a circular trading scheme where Nvidia provides capital to its customer SpaceX, and SpaceX in turn uses that capital to purchase Nvidia chips.
CEO Musk recently stated in a conference call for SpaceX's earnings announcement that its AI data centers would only use Nvidia chips.
Nvidia also holds stakes in so-called 'NeoCloud' operators such as CoreWeave and Nevius, which are also major customers of Nvidia.
Meanwhile, Google's parent company Alphabet disclosed that it held approximately $94.2 billion worth of SpaceX shares as of the end of the second quarter, and Nvidia's competitor AMD held approximately $600 million worth.
Major shareholder CEO Musk holds 48.4% of SpaceX shares, which, when converted to market value, is approximately $850 billion.
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