The company invested $900 million in Space Exploration Technologies (SPCX -3.71%), which recently broke the record for the largest IPO in history. Expand NASDAQ : GOOGL Alphabet Today's Change ( -2.19 %) $ -7.85 Current Price $ 349.68 Key Data Points Market Cap $4.4T Market cap calculated using publicly traded shares outstanding only. Implied market cap may vary. Expand NASDAQ : SPCX Space Exploration Technologies Today's Change ( -3.71 %) $ -5.14 Current Price $ 133.60 Key Data Points Market Cap $1.8T Market cap calculated using publicly traded shares outstanding only. If the space company performs as well as it hopes, that will be great for Alphabet.