Alphabet's $122 Billion SpaceX Bombshell Just Surfaced In A Routine Alaska Filing

A routine regulatory filing in Alaska has pulled back the curtain on one of Alphabet Inc‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) most valuable hidden assets: a stake in SpaceX that could soon be worth roughly $122 billion.

Rare Filing Reveals Hidden Ownership

The disclosure comes from an annual requirement in Alaska, where companies operating in the state must list any shareholders holding 5% or more. SpaceX, still privately held and famously tight‑lipped about its ownership structure, rarely offers this level of visibility.

Yet the filing shows that Google LLC — Alphabet's main operating unit — held 6.11% of SpaceX at the end of 2025, according to a Bloomberg report, providing one of the clearest public snapshots of the rocket company's cap table in years.

Google’s Decade-Old Bet Paying Off Big

That position traces back to 2015, when Google and Fidelity jointly invested about a billion in SpaceX at a valuation of about $12 billion, Benzinga reported earlier.

At the time, the deal was viewed as a strategic bet on satellite connectivity and launch infrastructure.

A decade later, the scale of that wager looks dramatically different. SpaceX's valuation has soared into the trillions in private markets, powered by the rapid expansion of Starlink's subscriber base and the company's dominance in commercial launches.

IPO Speculation Gains Momentum

If SpaceX goes public anywhere near the $2 trillion valuation investors increasingly discuss, Alphabet's stake would instantly become one of the most lucrative non‑core holdings in its history.

For a company already defined by search, cloud computing and AI, a twelve‑figure windfall from a long‑ago venture investment would be a striking addition to its balance sheet.

SpaceX has not committed to a listing date, but expectations for an IPO have intensified as the company matures and Starlink's revenue becomes more predictable. An offering of that size would rank among the largest ever attempted, and the Alaska filing only adds fuel to the speculation by confirming just how much Alphabet stands to gain.

For now, the disclosure serves as a rare reminder of how dramatically SpaceX has grown — and how a single early investment has quietly turned into one of Alphabet's most powerful financial assets.

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