Advanced Micro Devices (NASDAQ: AMD) has disclosed a stake in SpaceX of 3.3 million Class A shares, according to reporting this week that cited an SEC filing triggered by the rocket and satellite group’s 2026 initial public offering.
The AMD SpaceX stake carries two very different price tags depending on the method: $566m by one calculation, or $445.5m using SpaceX’s $135-a-share IPO price, according to CryptoBriefing.
Two valuations, one holding
The share count itself is not in dispute. Both CryptoBriefing and a Reuters wire carried on TradingView put AMD’s holding at 3.3 million Class A shares. What differs is the reference price used to translate that into dollars.
At SpaceX’s $135 IPO price, the stake is worth $445.5m. The higher $566m figure implies a per-share mark closer to $171, roughly in line with the reference price behind Alphabet’s disclosed SpaceX position of more than 551 million shares valued at about $94bn as of 30 June 2026, CryptoBriefing reported. That gap points to a later, higher mark-to-market valuation rather than the IPO print, though neither AMD nor SpaceX has published a figure of its own.
SpaceX’s new life as a reportable security
The disclosure exists at all because SpaceX (Space Exploration Technologies Corp) began filing periodic reports with the SEC after its 2026 listing, making its shares a 13(f)-reportable security for institutional holders such as AMD. SpaceX’s own 10-Q, filed under CIK 0001181412, is now on the public record at EDGAR. That filing regime is what surfaced AMD’s position in the first place, alongside those of other large technology holders.
Among them, chip rival Nvidia’s comparable position dwarfs AMD’s. Bloomberg reported a $21bn SpaceX stake for Nvidia, alongside a separate $30bn holding in Intel shares. Set against that, AMD’s position – whichever valuation is used – is a rounding error, which sits awkwardly with the suggestion that a passive equity stake outweighs AMD’s commercial relationship with SpaceX as a chip customer, a framing 247wallst.com put forward this week.
AMD’s own numbers keep climbing
The stake surfaces at a moment when AMD’s underlying business is accelerating on its own terms. Quarterly revenue has more than doubled over roughly two years, from $5.47bn in the first quarter of 2024 to $11.54bn in the quarter ended 27 June 2026, according to AMD’s 10-Q filed with the SEC on 5 August 2026. Net income for that quarter came to $2.30bn, against diluted earnings of $1.38 a share – both sharply higher than the $123m and $0.07 a share reported for the first quarter of 2024.
That growth trajectory is the more direct driver of AMD’s valuation than a sub-$1bn equity position in a supplier-customer relationship, whichever number is used for the SpaceX stake.
Market reaction stays muted
AMD shares closed at $515.80, up 2.63% on the day as of 14 August 2026, according to consolidated US exchange data, though the stock remains 4.3% below where it traded 20 days earlier. Trading volume ran at 84% of its 20-day average, suggesting the SpaceX disclosure has not, on its own, driven an unusual spike in dealing. The shares have ranged between $423.31 and $539.00 over the past month.
Neither AMD nor SpaceX has issued a statement clarifying which valuation methodology applies to the stake. Investors watching AMD’s next quarterly filing, or any updated SpaceX share-price disclosure, may get a clearer read on which of the two figures holds up.
This article is for information only and is not investment advice or a recommendation to buy or sell any asset. Markets move quickly; figures are correct as sourced at the time of writing. Always do your own research before making financial decisions.
