Buffett's Berkshire Gains Indirect SpaceX Exposure Through Alphabet Stake

Berkshire Hathaway's latest 13F filing showed it raised its Alphabet ($GOOG) stake by 83% to nearly 106 million shares worth $38 billion, making it Berkshire's third-largest holding behind Apple and American Express.
The move gives Berkshire indirect exposure to Elon Musk's SpaceX ($SPCX), since Alphabet has been a major SpaceX investor since 2015 and owned nearly 4% of the company, valued at $94 billion, as of June 30, according to Reuters. Applying Berkshire's proportional Alphabet ownership to that stake, Business Insider estimated Berkshire's indirect SpaceX interest at $815 million at quarter-end, or about $700 million by August 18 after share-price declines — a figure the report called immaterial relative to Berkshire's roughly $1.3 trillion in total assets.
Buffett has never invested directly in SpaceX or Tesla despite years of overtures from Musk, who in 2024 said Buffett "should take a position in Tesla." Buffett has called Musk a "brilliant, brilliant guy" but has favored businesses with predictable long-term economics, unlike SpaceX, which spent over $18 billion on capex in Q2 against $7.8 billion in sales and trades at more than 39 times forward sales, according to Seeking Alpha.
SpaceX's first public earnings report showed $7.8 billion in quarterly sales and a $541 million net loss, with AI spending surging to $15.8 billion. Musk said at an employee meeting that SpaceX's AI revenue would "definitely" exceed all other SpaceX revenue by September.
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Market: stocks