Alphabet’s Google holds $94.1 billion in SpaceX shares following the space and artificial intelligence company’s blockbuster initial public offering.

Google was an early investor in SpaceX and now holds an estimated 6% stake in the company. Alphabet disclosed the value of the position in a quarterly filing published Thursday.

Of the total holdings, $80 billion in SpaceX shares remain subject to short term sale restrictions. Another $14.1 billion is covered by longer restrictions that will remain in place through the third quarter of 2027. Such restrictions commonly prevent early investors from selling shares immediately following an IPO.

SpaceX went public in June through the largest listing in Nasdaq’s history. Its shares initially rose to $135 on their first trading day, valuing the company at about $2.1 trillion.

The increased value of Alphabet’s equity portfolio contributed to a $98 billion net unrealized gain during the second quarter, significantly boosting the company’s reported net income.

Alphabet’s investment portfolio also includes a stake in Anthropic, the artificial intelligence company behind the Claude models. The rising value of its private and recently listed technology holdings has become a significant contributor to Alphabet’s earnings alongside its advertising, cloud, and artificial intelligence businesses.