Intesa Sanpaolo disclosed a $966 million stake in SpaceX, the aerospace company founded by Elon Musk, according to a regulatory filing.
The Italian financial institution did not specify the nature of its exposure, which could include direct equity, convertible instruments, or debt financing. SpaceX, valued at $180 billion in its latest funding round, remains privately held, making such investments relatively uncommon among traditional banks.
The disclosure follows a broader trend of financial institutions exploring alternative asset classes amid low-yield environments. Intesa Sanpaolo, Italy’s largest bank by assets, has not commented on the strategic rationale behind the investment.
SpaceX’s primary business segments include satellite launches, space exploration, and the Starlink broadband venture, all of which have attracted significant investor interest in recent years.
