Nvidia Just Made a $21 Billion Bet on SpaceX. Here's 1 Reason Jensen Huang Likes the Company.
Nvidia's CEO has had plenty to say about Elon Musk.
Overview
It's no Berkshire Hathaway -- at least not yet. But Nvidia (NASDAQ: NVDA) has for some years been taking a page out of the Warren Buffett playbook and investing some of its considerable cash hoard in the stock market.
Today, the company has $63.4 billion invested in stocks, representing a big chunk of its overall cash position of $80.6 billion. And according to a newly released Securities and Exchange Commission filing, that portfolio includes a major new stake in Elon Musk's Space Exploration Technologies (NASDAQ: SPCX), known as SpaceX.
Details
Here's why this is a bold move for Nvidia and one big reason why CEO Jensen Huang likes the company so much.
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.