Home / Business and Economy / Alphabet Boosts SpaceX Stake, Holds $547M in Qualcomm

Alphabet Boosts SpaceX Stake, Holds $547M in Qualcomm

6 Nov

Summary

Alphabet reported a $547.9 million stake in Qualcomm as of September.
Google's parent company increased its investment in Elon Musk's SpaceX.
Qualcomm shares experienced a rise following Alphabet's disclosure.

As of September, Alphabet held a significant stake worth $547.9 million in the chipmaker Qualcomm. This disclosure reveals a notable investment by the Google parent company in the semiconductor industry.

In addition to its Qualcomm holdings, Alphabet has also increased its investment in Elon Musk's private space exploration company, SpaceX. The Google parent's position in SpaceX grew to approximately 555 million shares.

Qualcomm shares saw a positive reaction, rising more than 3% in premarket trading after Alphabet's filing. Earlier in the week, Qualcomm had faced investor concerns after missing expectations for quarterly smartphone chip sales, though it forecast growth in its data-center segment.

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