Alphabet's SpaceX stake rises to about $69 billion as shares slide

Alphabet raised its holding in Elon Musk's SpaceX by roughly 4 million shares in the third quarter, bringing the position to about 555 million shares at the end of September. At Thursday's close of $123.62, the stake was worth roughly $68.6 billion, against an original $900 million investment made in 2015. SpaceX's share decline since late June has erased about $25.6 billion of the holding's value, with about $10.5 billion of that loss falling in the third quarter and already flowing into Alphabet's earnings. Each $10 move in SpaceX's share price changes the estimated value by about $5.5 billion. Separately, Google agreed in June to pay SpaceX $920 million a month for access to about 110,000 Nvidia GPUs.

1. Alphabet held approximately 555 million SpaceX shares at the end of September, up from 551.2 million three months earlier.
2. At Thursday's closing price of $123.62, the stake was worth about $68.6 billion.
3. SpaceX shares fell from $170.86 at the end of June to $123.62, wiping about $25.6 billion off the holding's value.
4. About $10.5 billion of the decline occurred in the third quarter, and the rest came after September 30.
5. Every $10 move in SpaceX shares changes the estimated value of the stake by about $5.5 billion.
6. In June, Google agreed to pay SpaceX $920 million a month for access to roughly 110,000 Nvidia GPUs.