Alphabet Inc. disclosed that it held about 551 million Class A shares in Space Exploration Technologies Corp., or SpaceX, valued at roughly $94.1 billion as of June 30, 2026, according to its routine quarterly 10-Q filed with the SEC (U.S. securities regulator). The position stems from Alphabet’s 2015 investment of between $900 million and $1 billion for an estimated 7.5% stake, implying a gain of nearly 100 times its original outlay. SpaceX filed an S-1 (IPO registration statement) with the SEC on May 20, 2026, and completed its IPO in June. At quarter-end, the shares were trading at about $170.86 each, the price used to calculate Alphabet’s valuation. The filing shows that around $80 billion of the stake is subject to standard post-IPO sale restrictions, while the remaining $14.1 billion is locked until September 2027. Alphabet did not mention plans to sell. The investment reflected Alphabet’s long-running interest in satellite-based internet connectivity, which aligned with SpaceX’s Starlink broadband ambitions, giving the company exposure to launch infrastructure and satellite internet without building rockets itself. The size of the holding makes it a material balance-sheet asset and a notable source of shareholder value outside Alphabet’s core businesses.