Most of $94 billion stake subject to share-sale restrictions through 2027
The tech conglomerate’s marketable equity securities include $80 billion in SpaceX shares subject to short-term restrictions on the ability to sell and $14.1 billion of shares subject to long-term restrictions through the third quarter of 2027, the filing said. Those lock-up provisions are common for shareholders that buy stock around the time of an initial public offering.
SpaceX debuted on the public markets in June in what Nasdaq said was its biggest listing in history. Shares surged 19% to $135 on their first day of trading June 12, giving the company a market value of $2.1 trillion. The stock has since edged lower; on July 23, SpaceX shares traded at $112.13.
Google has a long history of investing in SpaceX. In May, The Wall Street Journal reported that the two companies were in discussions about a rocket-launch deal to help develop orbital data centers. Google has been expanding its efforts to put computing infrastructure in space as it ramps up AI development, and SpaceX Chief Executive Elon Musk has expressed interest in the unproven technology.