Google’s second-quarter filing contains a number that stops you: $94.1 billion in SpaceX stock. By Quartz’s math, that works out to roughly 6% of the rocket company, one of the largest known corporate holdings in a private space business before SpaceX went public.
Here’s what it means in plain terms. The stake sits among Google’s non-marketable equity securities, which carried a value of $124.3 billion as of June 30, 2026. Of those, $87.9 billion were remeasured at fair value during the quarter. The jump showed up in the earnings: Google reported other income of $98 billion for the quarter, driven mainly by unrealized gains on SpaceX and a separate private company investment.
Paper wealth with strings attached
Think of it like a house you own but cannot yet sell. According to The Wall Street Journal, about $80 billion of the SpaceX shares faces short-term restrictions on sales, and another $14.1 billion is locked up through the third quarter of 2027. Lock-ups like this are a standard condition for investors who receive shares tied to an IPO.
SpaceX listed on the Nasdaq under the ticker SPCX on June 12, pricing at $135 a share. The stock rose 19% in its first session and at the peak pushed the company’s market value as high as $2.1 trillion. The $86.2 billion offering, after underwriters exercised their extra-share option, beat every earlier IPO, Nasdaq said. More recently the shares changed hands at $112.13, a market capitalization near $1.52 trillion, and that price is the basis for the 6% figure.
More than a passive bet
The two companies are doing business together. In May they were discussing a rocket-launch deal to help build orbital data centers, the Wall Street Journal reported. Google’s interest in putting data centers in orbit ties into its wider AI ambitions, and SpaceX chief executive Elon Musk has signaled his own interest in the idea. On the prediction market Polymarket, traders were pricing a 14% chance that the two firms would agree on space-based data centers before the end of the year.
Sources
- Google owns 6% of SpaceX with $94.1 billion stake | Shakthi Vadakkepat posted on the topic | LinkedIn
- Google discloses $94.1 billion SpaceX stake in Q2 filing
