Alphabet Inc. (GOOG) disclosed a 6.11% ownership stake in SpaceX through an Alaska filing released on April 18 2026, the first public confirmation of the company’s long‑term exposure to the private launch firm.
The stake was acquired in 2015 when SpaceX was valued at roughly $12 billion; Alphabet invested about $1 billion for the 6.11% holding. The investment was part of a strategic bet on satellite connectivity and launch infrastructure that aligns with Alphabet’s broader goal of expanding global internet access.
In February 2026 SpaceX merged with Elon Musk’s AI and social‑media company xAI, diluting Alphabet’s share to approximately 5%. The merger was required by Alaska law for shareholders holding 5% or more, and the filing reflects the post‑merger ownership.
If SpaceX goes public at the projected $2 trillion valuation, Alphabet’s stake would be worth about $122 billion before dilution and roughly $100 billion after the xAI merger. The potential windfall could materially affect Alphabet’s balance sheet and shareholder value.
Alphabet’s recent financial performance underscores the significance of the stake: Q4 2025 revenue reached $113.8 billion with net income of $34.5 billion, while Q1 2025 revenue was $90.2 billion with the same net income. The company has also launched a dividend program and authorized share repurchases.
The disclosure highlights Alphabet’s early investment strategy and its ability to generate substantial returns from venture‑capital‑style bets. It also signals that Alphabet’s portfolio now includes a stake in a company that could become the largest IPO in history.
Market reaction to the filing was positive; Alphabet’s shares rose 1.99% and 1.71% on April 17 2026, reflecting investor enthusiasm for the potential upside.
Sundar Pichai, Alphabet’s CEO, said, “We are well under way with our Gemini era and there's great momentum across the company. Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation.”
SpaceX is expected to have an IPO in mid‑2026, with analysts projecting a valuation between $1.75 trillion and $2 trillion. The timing and size of the offering will determine the final value of Alphabet’s stake.
The filing marks the first public confirmation of Alphabet’s significant stake in SpaceX, a material development that could reshape the company’s financial outlook and strategic positioning in the aerospace and technology sectors.
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