Chamath‑Connected SPAC Listings Are Crushing Nvidia — Wall Street Didn't See This Coming (CORRECTED)

Editor's note: The article and headline have been corrected to clarify Chamath Palihapitiya's SPAC involvement and update the price performance.

Three SPAC‑listed companies—SoFi Technologies Inc. (NASDAQ: SOFI) and Opendoor Technologies Inc. (NASDAQ: OPEN), both taken public via Chamath Palihapitiya–sponsored vehicles, and MP Materials Corp. (NYSE: MP), which merged with Fortress Value Acquisition Corp. in a deal anchored by a PIPE that included Palihapitiya—are staging an unexpected comeback in 2025, posting year‑to‑date returns that outpace even tech giant Nvidia Corp. (NASDAQ: NVDA).

Surging Stock Performance

While Nvidia remains a headline grabber with a monthly gain of roughly 20%, Chamath's SPAC trio has quietly delivered impressive returns. Opendoor ($OPEN) leads the pack, rallying around 190% over the past month, followed by MP Materials ($MP) at 65% and SoFi ($SOFI) up about 52%.

This resurgence marks a significant turnaround after years of skepticism surrounding SPACs.

Read Also: Chamath Palihapitiya Asks If He Should Launch Another SPAC—70% Say No, Users Warn of Past Failures: ‘No Crying In The Casino!’

Why The Revival?

These stocks have shaken off their "SPAC stigma" by showing improving fundamentals and strategic pivots.

• SoFi, initially a fintech darling, has broadened its offerings and grown its user base.
• MP Materials, a company specializing in rare-earth materials, benefits from increased demand amid supply chain and geopolitical tensions.
• Opendoor, despite some headwinds, has optimized its operations and is riding a recovering real estate market.

What About $SPCE?

Investors are now closely watching Virgin Galactic Holdings Inc. (NYSE:SPCE), the original space-focused SPAC, to see if it can join this rally.

While SPCE’s 29% gain over the past month pales in comparison to other SPACs, it still manages to outshine Nvidia. The momentum in Chamath's SPACs raises questions about whether a broader "Chamath revival" is underway or if these gains are isolated.

Read Next:

• Chamath Palihapitiya Agrees With A Social Media User Who Says While Meta Spends $200 Million A Year To Poach AI Talent, Elon Musk Keeps Costs Low But Still Manages To Unveil Better Products

Photo: Shutterstock