Alphabet’s own products are only part of what its shares are worth. For anyone researching Alphabet stakes in SpaceX and Anthropic, whether you trade actively, invest through a broker, or use tokenized stocks and futures on BloFin, the short answer is that Alphabet holds substantial positions in both: its SpaceX stake was worth about $94.1 billion after SpaceX’s June 2026 IPO, and its Anthropic stake sat within roughly $124.3 billion of non-marketable equity securities by mid-2026.
That scale has reshaped how Wall Street values Alphabet. A re-rating in either company can move Alphabet’s valuation and reported earnings as much as a strong quarter from Google’s core business, giving investors indirect exposure to two of the market’s biggest space and AI stories through Alphabet stock. Below, we break down how those stakes are valued, when lockups and realization events could matter, how they affect Alphabet’s share price, and how traders and investors can gain exposure through traditional brokerage accounts or BloFin strategies, including leveraged positions for users comfortable with higher risk.
How big are Alphabet's stakes in SpaceX and Anthropic after the private market valuation jump?
Alphabet's stakes in SpaceX and Anthropic give it exposure to space infrastructure and to frontier AI, and by mid-2026 the two had become a material part of how the company is valued. On the June 30, 2026 balance sheet they break down like this:
The SpaceX stake was valued at $94.1 billion after Space Exploration Technologies completed its initial public offering in June 2026 (source: Alphabet 10-Q).
The Anthropic stake carried a value of $124.3 billion, classified under non-marketable equity securities (source: Alphabet 10-Q).
These are unrealized gains sitting in Alphabet's other-income line. They do not guarantee future quarterly profit, dividends, or cash flow for individual investors.
You cannot buy stock in SpaceX or Anthropic directly in most markets. Instead, you buy Alphabet stock, the parent company investors use for indirect exposure, or a tokenized version like tokenized Alphabet on BloFin, to get indirect exposure to how those investments feed into Alphabet's overall value. Traders on BloFin can use GOOGLX/USDT Spot or the GOOGLUSDT Perpetual to express a view on whether Alphabet's investment portfolio lifts its total valuation over the coming years.
Alphabet's stake in SpaceX: History, size and lockup schedule
Alphabet invested $900 million in SpaceX in January 2015, when the rocket company was valued at around $12 billion, which bought roughly 7.5% of the company. Later funding rounds diluted the position to about 5% to 6% by mid-2026, but even so it is one of Alphabet's largest non-core investments, and the original stake has grown by quite a bit over time, with gains of roughly 100 times, a return few expected a decade ago.
SpaceX then completed the largest IPO in history. It priced 555.6 million shares at $135 each on June 12, 2026, raising $75 billion in gross proceeds, a figure that rose to about $85.7 billion after underwriters exercised the over-allotment, and it entered public markets valued near $1.8 trillion before closing its first day up 19% at $161 for a market capitalization around $2.1 trillion, the first time a space company listed at that scale (source: CNBC). That listing pushed Alphabet's remaining stake to $94.1 billion on paper and reclassified it from a private holding to marketable equity securities. For more on the mechanics, see the SpaceX IPO explainer.
The public listing tied up part of Alphabet's stake under lockup restrictions. About $80 billion of it falls under short-term restrictions with release dates rolling through Q4 2026, starting shortly after the August 4, 2026 SpaceX quarterly report, while roughly $14.1 billion stays locked until Q3 2027 under extended restrictions (source: The Information).
Because the stake is now marketable, its mark-to-market swings flow into Alphabet's earnings each quarter, which means space-infrastructure sentiment can temporarily obscure core Google Services and Google Cloud performance. Some analysts argue Alphabet should sell part of the position to finance AI data centers, chips, and power build-outs; others see holding it as a rare signal of long-term conviction in space compute capacity.
Alphabet's stake in Anthropic: Size, structure, AI partnership and Alphabet's AI investments
Anthropic develops the Claude family of AI models and competes at the top of the field alongside OpenAI. Alphabet has invested more than $3 billion in Anthropic across multiple rounds since 2023, treating the deal as both a financial stake and a strategic counter to the Microsoft-OpenAI and Amazon-Anthropic relationships. Anthropic's valuation approached $1 trillion after its Series H round in May 2026 raised $65 billion at a $965 billion post-money figure (source: TechCrunch).
Alphabet is one of Anthropic's largest outside shareholders, with an estimated stake in the mid-teens percent, subject to contractual caps, and it carried $124.3 billion of Anthropic on its June 30, 2026 balance sheet under non-marketable equity securities (source: Alphabet 10-Q). The relationship is operational as well as financial: Anthropic uses Google's custom TPU chips and cloud infrastructure to train and serve Claude, while Alphabet integrates Anthropic's technology into Google products alongside its own Gemini models.
The concentration risk is real. Most of the $124.3 billion in non-marketable equity securities on Alphabet's books sits in this single AI company, so any jump or compression in Anthropic's private-market value moves Alphabet's reported net income and investor sentiment in the same period.
Realization paths: Anthropic listing scenarios and SpaceX lockups
Paper gains only become realized cash when shares are sold, and that timing matters if you are trying to value Alphabet's future free cash flow. For Anthropic, the plausible routes are a traditional IPO, a direct listing, or a large strategic acquisition, with no firm timeline; analysts treat the stake as an option on AI economics rather than guaranteed income. If Anthropic does list, Alphabet's board would decide whether to hold, sell gradually, or convert the position into a long-term arrangement, and the proceeds could fund AI capital expenditure, share buybacks, or further chip investment, each of which affects per-share value differently.
For SpaceX, the lockup schedule sets the pace. A first release window opens shortly after the August 4 quarterly report for a limited slice, while larger blocks stay restricted until late 2027, so commentary that assumes instant liquidation misses the point. If Alphabet signals large SpaceX share sales, the market will read that either as confidence recycling into new projects or as a bearish tell on the rocket company, and neither reading is neutral for Alphabet's stock. What ordinary investors care about most is whether these paper gains eventually become capital that boosts earnings per share, reduces the share count, or supports higher sustainable free cash flow.
How Alphabet's stakes in SpaceX and Anthropic influence Alphabet stock and GOOGLX
The SpaceX and Anthropic markups together contributed roughly $99 billion of unrealized gains to other income in the second quarter of 2026, temporarily lifting quarterly net income far above trend (source: Yahoo Finance). Their combined carrying value was about $218 billion on the June 30 balance sheet, the $94.1 billion SpaceX stake plus the $124.3 billion Anthropic position, though professional investors strip these items out when judging core advertising and cloud trends, because the values soar in one quarter and compress the next.
When you buy Alphabet through a traditional broker, you participate in the gains or losses on these investments but have no direct control over SpaceX or Anthropic shares. GOOGLX on BloFin is backed 1:1 by Alphabet Class A shares and tracks their price, so any shift in how markets value these stakes is reflected in GOOGLX/USDT. That link cuts both ways: sharp repricing of AI names can push Alphabet's stock further than core fundamentals alone would justify, which creates both opportunity and risk for leveraged positions.
You can watch how that sentiment is pricing in real time, including the live funding rate and market depth, on the GOOGLUSDT Perpetual page.
How traders can approach Alphabet exposure on BloFin
Investors who follow Alphabet's equity stakes often ask how to get exposure using crypto capital. BloFin lists two surfaces for it. The GOOGLX/USDT Spot pair gives straightforward, unleveraged exposure to Alphabet's full story, its SpaceX and Anthropic positions included, and works much like any other spot market. The GOOGLUSDT Perpetual allows leveraged long or short positions with up to 20x, which magnifies both gains and losses; the mechanics are covered in the guide to leverage and liquidation.
More advanced traders might use the perpetual to go long ahead of a catalyst like a potential Anthropic listing, to hedge existing positions if AI valuations look stretched, or to express a broader view on Alphabet's AI and space thesis. Whichever way you lean, monitor funding rates, position limits, and the price-protection bands specific to GOOGLUSDT, because volatility from these non-core stakes can trigger liquidations quickly. A working grasp of margin trading matters most when you are holding leveraged exposure through a volatile catalyst.
GOOGLX holders track Alphabet's share price but do not receive direct ownership rights in Alphabet, SpaceX, or Anthropic, and any dividend or corporate-action treatment follows the issuer's rules. Whether you access Alphabet through a broker or trade GOOGLX/USDT and GOOGLUSDT on BloFin, position sizing and independent research matter more than any single bullish narrative about Alphabet's external holdings.
Looking to gain exposure to Alphabet, and to its SpaceX and Anthropic stakes through it? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and navigate to the GOOGLX/USDT Spot trading page or GOOGLUSDT Perpetual page.
Frequently asked questions
How much of SpaceX does Alphabet own?
Alphabet bought roughly 7.5% of SpaceX with a $900 million investment in January 2015, when SpaceX was valued at around $12 billion. Later funding rounds diluted that to about 5% to 6% by mid-2026. After SpaceX's June 2026 IPO, that remaining stake was valued at $94.1 billion on Alphabet's balance sheet, up roughly 100 times from the original outlay. Alphabet does not control SpaceX; it is a large minority shareholder, and much of the stake is still under post-IPO lockup restrictions.
Can you buy SpaceX or Anthropic stock directly?
For most investors, no. SpaceX is now publicly traded after its June 2026 IPO, but the shares trade under their own listing rather than through Alphabet, and Anthropic remains private with no public shares at all. The way to get indirect exposure to both through a single position is to own Alphabet, which holds large stakes in each. On BloFin that exposure is available as tokenized Alphabet through the GOOGLX/USDT Spot pair or the GOOGLUSDT Perpetual.
Why did Alphabet's Q2 2026 profit jump so much?
Alphabet's second-quarter 2026 net income was lifted by a roughly $99 billion unrealized gain on its equity investments, driven mainly by the markups on its SpaceX and Anthropic stakes. That gain sits in the other-income line rather than in operating profit, so it inflated the headline number without reflecting the core advertising and cloud businesses. Because such gains can reverse in a later quarter, most analysts strip them out to judge how the underlying business is actually performing.
When can Alphabet sell its SpaceX shares?
The SpaceX stake is subject to post-IPO lockups. About $80 billion of it falls under short-term restrictions that roll off through the fourth quarter of 2026, with the first window opening shortly after SpaceX's August 4, 2026 quarterly report. Roughly $14.1 billion stays locked until the third quarter of 2027 under extended restrictions. Until those windows open, Alphabet cannot freely sell the shares, so the paper value can move well before any of it can be turned into cash.
How do you get exposure to Alphabet's stakes on BloFin?
You gain exposure by trading Alphabet itself, since that is what carries the SpaceX and Anthropic positions. On BloFin the GOOGLX/USDT Spot pair tracks Alphabet Class A stock on a one-to-one basis for unleveraged exposure, while the GOOGLUSDT Perpetual lets you trade the same price with leverage of up to 20x. Both move with Alphabet's overall value, so a re-rating of its SpaceX or Anthropic stakes would show up in their price, though holding either gives you price exposure only, not ownership rights.
Researched and written by the BloFin Academy editorial team with AI-assisted drafting. All facts independently verified. Primary sources include Alphabet's Q2 2026 Form 10-Q filed with the SEC, contemporaneous reporting from CNBC on the SpaceX IPO, TechCrunch on Anthropic's Series H round, and The Information on Alphabet's SpaceX lockups, with quarterly figures from Yahoo Finance, current as of September 2026.
This article is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrencies and tokenized assets are highly volatile, and trading them carries significant risk, including the possible loss of your entire investment. Always do your own research and consider consulting a licensed financial advisor before making any investment decisions.