Nvidia Has $21 Billion SpaceX Stake; Alibaba to Sell Gaming Arm; Ferrari’s Luce is Priciest New Car

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Nvidia (NVDA) on Friday disclosed a nearly $21 billion stake in Elon Musk’s SpaceX and a $30 billion one in Intel Corp.The AI chipmaking giant had about 122.8 million shares in SpaceX as of June 30, according to a regulatory filing made Friday. It held about 214.8 million in Intel.
- Alibaba Group Holding (BABA) is selling its gaming arm in a deal worth at least $1.5 billion that will boost the Chinese e-commerce leader’s pivot to AI. Asian private equity firm Trustar Capital has reached an agreement to acquire Lingxi Games, according to an internal memo distributed on Monday and reviewed by Bloomberg News. “Alibaba is handing Lingxi to Trustar due to better focus on its strategic priorities,” said Zhou Bingshu, chief executive officer of Lingxi Games, without disclosing the size of the deal.
- Ferrari's (RACE) first all-electric vehicle defied criticism to sell for $40 million, making it the most expensive new car ever sold at auction.The Sotheby’s charity auction of the “tailor-made” Luce at Monterey Car Week in California over the weekend broke a record posted last year, when Ferrari’s customized Daytona SP3 sold for $26 million, the carmaker said in a statement. The buyer wasn’t identified.

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