Google revealed that it owns $94.1bn in SpaceX shares

Google has spent many years sponsoring SpaceX. This week it shows what patience is worth. In a quarterly filing, Alphabet said its Google unit held $94.1bn worth of SpaceX shares, following the rocket company’s record IPO.

Google was an early investor, and recently struck a massive computing deal with the company. The stock has quietly floated Alphabet’s gains while SpaceX’s value has soared. The disclosure comes days after the Nasdaq filing that made SpaceX a public company.

It’s locked, now

Most of the holdings are frozen. After an IPO, major shareholders are often unable to sell immediately. Google said $80bn of its SpaceX stock has “short-term sale restrictions.” Another $14.1 billion is restricted through the third quarter of next year, the document said. Adding paper is huge. The cash has not been used.

The shutdown is important because SpaceX shares have swung hard since launch. The stock fell as the counter rally cooled. Holders who can’t sell ride those swings on paper, for better or worse.

Stocks that do the heavy lifting

SpaceX isn’t the only outside bet that’s paying off. Alphabet’s portfolio also includes a stake in Anthropic, a fast-growing AI lab. The company said Wednesday that Alphabet’s investment income was nearly $100 billion in the second quarter. That makes the net income increase.

The figure looks remarkable against the day job. Alphabet has led capital spending of $205 billion, most of which is in AI data centers. Investors were worried about that bill. The investment of almost 100 billion dollars will cause damage. It is not the same as core profit.

Why is it important today?

The period is sharp. SpaceX will fly the Starship again on Thursday, its next flight test. Success will make the story behind the stock stable. Bankruptcy will test it. In any case, Google’s balance sheet now moves a little with every release.

The search firm sits on a $94.1bn space stake it still can’t sell. That’s what Big Tech will look like in 2026: The biggest numbers come from what these companies own, not just what they do.