SpaceX Valuation Soars to $2.6 Trillion, Surpassing Amazon Temporarily
SpaceX's valuation surged by $1 trillion since its trading debut, briefly making it the fifth-most valuable company globally, despite a significant loss in the previous year.
SpaceX recently achieved a significant milestone by temporarily surpassing Amazon to become the fifth-most valuable company in the world. This occurred before the company's shares retraced some of their gains prior to the market's closing on Tuesday.
On its first full day of trading, SpaceX's stock price increased by 20% on Monday. The announcement of SpaceX's acquisition of AI coding firm Cursor, coupled with the commencement of options trading for its shares, drove the stock price even higher, pushing its valuation to $2.9 trillion before it ultimately adjusted downwards.
Despite this impressive valuation, SpaceX reported a substantial loss of $4.9 billion last year, with revenues totaling $18.7 billion. In contrast, Amazon reported a profit of $78 billion for the year 2025, with sales amounting to $717 billion. However, SpaceX has begun diversifying its revenue streams, securing compute leasing agreements with Anthropic and Google, and will incorporate revenue from the Cursor acquisition once finalized in the third quarter.
Although the agreements with Anthropic and Google are non-binding, investor sentiment remains positive. Since its public debut on Friday, SpaceX has seen its valuation increase by approximately $1 trillion.
The recent transaction generated nearly $86 billion in new capital for SpaceX, largely based on ambitious projections that the company can develop an AI business valued at trillions of dollars. This projection comes from a company that recently made significant cuts to its AI division, re-evaluating its approach after Elon Musk stated that his AI company, xAI, which is now part of SpaceX, was initially 'not built right' and is being rebuilt from the ground up.
SpaceX's initial public offering (IPO) was marked by a debut valuation of around $1.7 trillion, raising close to $86 billion for the company. Only about 4% of SpaceX's total shares were made available for trading, which experts anticipated would lead to increased volatility in stock price.
This volatility was evident on Tuesday, with traders exchanging more than 300 million SpaceX shares during the trading session, which is more than half of the 555 million shares available on the public market after the IPO, according to Nasdaq data.
The fluctuations in valuation persisted into after-hours trading, where SpaceX's market cap briefly surpassed Amazon's again before declining.
