Sou Hu Cai Jing·2025-12-11 01:20Group 1 - Alphabet's stock performance has been impressive this year, with an increase of nearly 70%, leading to a market capitalization of $3.8 trillion [1] - In 2015, Alphabet invested approximately $900 million in SpaceX, acquiring about 7% equity when SpaceX was valued at $12 billion [3] - SpaceX is expected to go public next year with a valuation of $1.5 trillion, potentially increasing the value of Alphabet's shares to approximately $111 billion [3] Group 2 - Alphabet reported an $8 billion gain from "non-public equity investments," confirmed to be from SpaceX, which constitutes 25% of its net profit for Q1 2025 [3] - The initial focus of Alphabet's investment was on SpaceX's Starlink project, which has proven to be a successful investment [4] - The investment has also created strategic synergies, as SpaceX utilizes Google Cloud for its Starlink system's computational support [4]