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<p>Three of <strong>Google</strong>'s earliest outside bets, in <strong>SpaceX</strong>, <strong>Anthropic</strong> and <strong>Waymo</strong>, now carry a combined value above $350 billion after a <a href="https://yellow.com/news/spacex-250b-ipo-crypto-liquidity-drain" rel="noopener noreferrer nofollow">record stock market debut</a>.</p>
<h2 id="key-points">Key Points:</h2>
<blockquote>
 <ul>
  <li>Google paid about $900 million for a SpaceX stake in 2015 that is now worth roughly $140 billion.</li>
  <li>The company holds close to 14% of Anthropic and a majority of Waymo, two of the hottest names in AI and robotaxis.</li>
  <li>Stacked together, the three holdings clear $350 billion, far beyond what Google first put in.</li>
 </ul>
</blockquote>
<h2 id="spacex-ipo-swells-google-stake">SpaceX IPO Swells Google Stake</h2>
<p>SpaceX went public on the Nasdaq on Jun. 12, and the rocket maker <a href="https://www.nbcnews.com/business/markets/spacex-ipo-stock-price-rcna349760" rel="noopener noreferrer nofollow">raised</a> about $75 billion in the largest initial public offering ever recorded. Shares <a href="https://www.npr.org/2026/06/12/nx-s1-5855004/stock-ai-spacex-ipo-elon-musk" rel="noopener noreferrer nofollow">climbed</a> 19% on their first day, closing near $161 and pushing the market value above $2 trillion. The listing also made <strong>Elon Musk</strong> the world's first trillionaire.</p>
<p><strong>Alphabet</strong>, Google's parent, wrote a $900 million check in 2015 for close to 7% of the company, then valued at $12 billion. That stake has now <a href="https://jawlah.co/en/58563" rel="noopener noreferrer nofollow">swelled</a> to somewhere near $140 billion on paper, a return of roughly 150 times.</p>
<p>The ties between the two firms run deeper than the early bet. Google recently agreed to pay SpaceX about $920 million a month for AI computing power through 2029. That deal feeds revenue back to the rocket company even as Google profits from its rising shares.</p>
<p><strong>Also Read:</strong><a href="https://yellow.com/news/kraken-5x-perps-openai-anthropic-pre-ipo" rel="noopener noreferrer nofollow">Kraken Launches 5X Perps On OpenAI And Anthropic Pre-IPO</a></p>
<h2 id="anthropic-and-waymo-bets-climb">Anthropic And Waymo Bets Climb</h2>
<p>The same pattern runs through Google's private holdings. The company <a href="https://fortune.com/2026/06/04/amazon-google-billions-anthropic-ipo/" rel="noopener noreferrer nofollow">holds</a> about 14% of Anthropic, maker of the Claude chatbot, a stake worth roughly $135 billion at the lab's latest $965 billion valuation.</p>
<p>Google has since <a href="https://www.axios.com/2026/04/24/google-amazon-anthropic-investment" rel="noopener noreferrer nofollow">committed</a> up to $40 billion more to Anthropic, deepening one of the biggest bets in AI. A separate February round <a href="https://www.bloomberg.com/news/articles/2026-02-02/waymo-raises-16-billion-from-alphabet-others-to-expand-service" rel="noopener noreferrer nofollow">valued</a> Waymo, the robotaxi arm it still controls, at $126 billion. That unit now runs paid driverless rides across several U.S. cities and is eyeing Tokyo and London.</p>
<h2 id="returns-reshape-alphabet-s-books">Returns Reshape Alphabet's Books</h2>
<p>Investors have begun treating Alphabet partly as a venture fund. Its private marks swing every quarter, and a single revaluation can rival the profit from the search business.</p>
<p>The effect already shows in the accounts. Alphabet posted a record profit in the first quarter of 2026, and a large share of it came from writing up private stakes led by Anthropic rather than from selling ads. The SpaceX listing now adds a public, and far more volatile, line to that same ledger.</p>
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Did Google Quietly Build A $350B Venture Empire Around SpaceX, Anthropic And Waymo?

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