Alphabet disclosed in a quarterly SEC filing that its SpaceX stake is now worth $94.1 billion, turning an investment of between $900 million and $1 billion from 2015 into a return of nearly 100 times its original size. The position stems from about 551 million Class A shares, split between an $80 billion tranche under standard post-IPO short-term sale restrictions and a $14.1 billion tranche locked until September 2027. Alphabet's filing gave no indication it plans to sell.
Alphabet Inc. disclosed a stake in SpaceX now valued at $94.1 billion as of June 30, 2026. The figure appeared in a routine quarterly 10-Q filing with the SEC, which also disclosed Alphabet holds roughly 551 million Class A shares in Space Exploration Technologies Corp. Alphabet originally invested between $900 million and $1 billion in SpaceX back in 2015 for an estimated 7.5% stake. That position is now worth nearly 100 times the initial outlay.
SpaceX's IPO sets the valuation
SpaceX filed its S-1 with the SEC on May 20, 2026 and completed its initial public offering in June. Shares were trading at roughly $170.86 apiece at the quarter's close, the price Alphabet used to calculate its $94.1 billion valuation.
The filing splits the stake into two tranches with different liquidity timelines. About $80 billion of the shares carry standard post-IPO short-term sale restrictions. The remaining $14.1 billion stays locked until September 2027, and Alphabet's filing mentioned no plans to sell.
A 2015 bet on satellites, not rockets
Alphabet's 2015 investment wasn't a random moonshot. Google had been exploring satellite-based internet connectivity for years, and SpaceX's Starlink ambitions aligned with that interest, giving Alphabet exposure to launch infrastructure and satellite broadband without building rockets itself. At the time, SpaceX was valued between $12 billion and $15 billion.
What it means for Alphabet's balance sheet
A $94.1 billion equity position in a single company is material even for Alphabet. The company's market capitalization sits well above $2 trillion, yet the SpaceX stake still represents a meaningful chunk of shareholder value.
The lock-up structure creates a dynamic to watch: when the short-term restrictions on the $80 billion portion expire, the market will watch closely for signs of selling. Alphabet's silence on any intention to sell suggests it views SpaceX as a long-term strategic holding, a read reinforced by the $14.1 billion tranche locked until September 2027.
Source: Crypto Briefing
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