2 Stocks About To Make a Killing on the SpaceX IPO

Key Points
SpaceX is aiming to raise as much as $75 billion at a valuation of $2 trillion in its IPO.
Alphabet was an early investor in SpaceX and stands to gain more than $100 billion.
SpaceX is a major customer of Nvidia, especially now that it owns xAI as well.
- 10 stocks we like better than Nvidia ›
SpaceX is getting ready to go public, and it could be the biggest offering in history.
Elon Musk's space company, which recently merged with his AI company, xAI, filed confidentially to go public last week, and SpaceX is reportedly seeking a valuation of up to $2 trillion. The company was valued at $1.25 trillion in the merger earlier this year, though that number was determined by the board of directors and investment bankers. The last time investors bought shares of the company was at the end of 2025, and its valuation was $800 billion.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
SpaceX is reportedly seeking to raise as much as $75 billion, which would make the largest IPO raise on record. At that valuation, it would be one of the most valuable companies in the world. The IPO is clearly a windfall for its investors, including Elon Musk, whose net worth could top $1 trillion after it goes public, but there are other overlooked winners in the stock market that investors should be aware of, as these stocks could get a meaningful boost from the IPO. Keep reading to see two of them.
1. Alphabet
Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is best known as the parent of Google and the world's biggest advertising company, but it's also a prolific investor.
It owns stocks in more than 20 publicly traded companies, as well as a number of start-ups, including through its Google Ventures arm.
Alphabet invested $900 million in SpaceX in 2015, getting a stake of about 7% in Musk's space company, and it's believed to own approximately that much today. In its Q1 2025 report, Alphabet disclosed an $8 billion unrealized gain, which was widely believed to be related to SpaceX's ballooning valuation.
If Alphabet still owns 7% of SpaceX, that investment would be worth $140 billion if SpaceX reaches a valuation of $2 trillion. Even for a company the size of Alphabet, that's a huge gain, and would be more than its net income last year.
That stake would also be especially valuable to Alphabet right now, as it would become liquid, and the company is set to plow roughly $175 billion into capital expenditures this year to support its AI ambitions. A windfall from SpaceX would certainly help with that.
2. Nvidia
Nvidia (NASDAQ: NVDA) isn't an investor in SpaceX, but it could benefit from the blockbuster IPO in another way. SpaceX is a major customer of Nvidia, which has become the most valuable company in the world due to its dominance of the AI GPU market.
Elon Musk has expressed admiration for Nvidia and CEO Jensen Huang on several occasions, and recently said that both SpaceX and Tesla would continue to purchase Nvidia chips at scale.
SpaceX's acquisition of xAI also puts it in a position to spend even more on Nvidia chips than it would have as funding xAI, which owns the social media site X and the chatbot Grok, with SpaceX's profits from Starlink, was a major part of the rationale for the merger. Musk wants xAI to compete with OpenAI and Anthropic, which will require large investments in Nvidia chips.
It's a good bet, then, that a significant portion of the $75 billion that SpaceX could raise will be spent on Nvidia chips.
Over the longer term, Musk also envisions putting data centers in space. While that might sound like a fantastical idea, he aims to use the funding from the IPO to launch data center satellites, arguing that space-based data centers can be more easily powered and cooled.
Though the idea has been met with skepticism, if Musk pulls it off, it could spark even more demand for Nvidia chips. Whatever happens with the data center plan, Nvidia figures to be a winner from SpaceX's payday.
Should you buy stock in Nvidia right now?
Before you buy stock in Nvidia, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $532,066!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,087,496!*
Now, it’s worth noting Stock Advisor’s total average return is 926% — a market-crushing outperformance compared to 185% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of April 5, 2026.
Jeremy Bowman has positions in Nvidia. The Motley Fool has positions in and recommends Alphabet, Nvidia, and Tesla. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.