Alphabet could gain about $100 billion from its stake in SpaceX if the company
lists at a ~$2 trillion valuation, according to a recent filing. Alphabet held
roughly 6.11% of SpaceX at end-2025, likely diluted to about 5% after its merger
with xAI, implying a valuation near $100 billion at IPO pricing. The disclosure
comes as SpaceX, led by Elon Musk, prepares a potential blockbuster listing that
could be among the largest ever, generating major gains for early investors and
employees.
