Alphabet's financial report looks impressive, having invested in SpaceX in 2015, with a valuation that has increased 35 times?

Google's parent company Alphabet announced its first-quarter financial report, with net income rising to $34.5 billion, of which as much as $8 billion in unrealized gains comes from investments in private companies. Bloomberg cited sources familiar with the matter, stating that the company in question is Elon Musk's SpaceX.

Invested in SpaceX in 2015, its valuation has risen 35 times.

According to a report by Bloomberg in 2015, Google and Fidelity Investments jointly invested $1 billion in SpaceX, acquiring approximately 10% of the shares. At that time, SpaceX and investors agreed to purchase insider shares, and the company's valuation was about $10 billion. By the end of last year, SpaceX's valuation had risen to $350 billion.

(The new NASA director helps SpaceX progress, how should one invest in the greatly increased valuation of SpaceX? )

For the quarter ending in March, Alphabet's net income rose to $34.5 billion, or $2.81 per share. Although profits exceeded Wall Street's average forecast of $2.01 per share, the earnings included $8 billion in "unrealized gains on illiquid equity securities related to our investments in private companies." Alphabet did not disclose the name of the company.

Google's investment back then has now risen 35 times. Although the company has not confirmed the name, it is not impossible to deduce.

Google is committed to internet accessibility and maintains collaboration with SpaceX.

Google has been committed to the popularization of the internet, especially in remote mountainous areas, oceans, and regions where it is difficult to lay fiber optics. Project Loon in 2015 provided internet connectivity to remote areas through high-altitude balloons, which was later discontinued, but the subsequent Project Taara continued its concept by using beams to provide internet connectivity. Ultimately, it became independent this year and collaborated with telecom operators such as T-Mobile and Vodafone to test and deploy the technology.

Google Cloud and SpaceX have also maintained their collaboration, allowing Starlink's ground stations to be set up within Google's data centers to provide low-latency, high-speed, and secure internet connectivity.

This article reports that Alphabet's financial results are impressive, and its investment in SpaceX in 2015 has increased in value by 35 times? Originally appeared on Chain News ABMedia.