Intesa Sanpaolo reveals $966 million SpaceX stake

The Milan-based bank disclosed ownership of approximately 5.66 million shares in the rocket and satellite company as of June 30. This holding represents the single largest position within Intesa Sanpaolo’s $2.92 billion aggregate U.S. portfolio. While SpaceX has reached a market valuation of approximately $1.9 trillion, the bank’s significant allocation highlights the growing institutional appetite for private-turned-public space infrastructure assets. The filing provides a rare glimpse into the Italian lender's strategy of concentrated exposure to high-growth American technology firms, positioning the bank as a major shareholder in the aerospace sector.