Alphabet Stock Falls 7% After Disclosing $94.1B SpaceX Stake from June IPO

According to CoinCodex, Alphabet shares fell about 7% on July 23 after the company disclosed a $94.1 billion equity stake in SpaceX following its June 12 public listing. The SpaceX position was valued against public market prices for the first time in Alphabet's quarterly filing. Of the holding, $80 billion remains under short-term sale restrictions, with another $14.1 billion locked through Q3 2027.

Investors also focused on Alphabet's rising capital expenditure guidance—raised to $195–$205 billion for full-year 2026—and negative free cash flow of $5.9 billion for the quarter, driven by heavy spending on AI infrastructure expansion.