HomeSpaceX Valuation Surges to $2.6T, Briefly Overtaking Amazon
SpaceX briefly surpassed Amazon to become the world’s fifth most valuable company, nearly overtaking Microsoft, before its shares retreated from those highs before the market closed on Tuesday.
Following a 20% jump on its first full trading day, SpaceX’s stock surged further on Tuesday. News of the acquisition of AI coding firm Cursor, combined with the launch of options trading, pushed the valuation to $2.9 trillion before settling lower.
This surge occurred despite SpaceX reporting a $4.9 billion loss on $18.7 billion in revenue last year, contrasting sharply with Amazon’s $78 billion profit on $717 billion in sales. However, SpaceX has recently secured compute leasing deals with Anthropic and Google, and expects to integrate Cursor’s revenue once the deal closes in the third quarter.
Although the Anthropic and Google agreements are non-binding, investors remain optimistic. Since its IPO on Friday, Elon Musk’s space and AI company has seen its valuation increase by approximately $1 trillion.
The transaction raised nearly $86 billion for SpaceX, largely driven by the promise of building a trillion-dollar AI business—a bold assertion for a company that recently dismantled its existing AI division to rebuild it from scratch.
SpaceX first announced its collaboration with Cursor in April, when Musk stated that his AI venture, xAI (now part of SpaceX), “was not built right [the] first time around” and needed to be reconstructed “from the foundations up.” The acquisition is valued at $60 billion in SpaceX shares.
SpaceX’s historic IPO launched with a valuation of roughly $1.7 trillion, generating nearly $86 billion for Musk’s company. With only 4% of total shares available for public trading, experts warned the stock would be prone to significant volatility.
This prediction proved accurate on Tuesday, as traders exchanged over 300 million SpaceX shares. According to Nasdaq data, this volume exceeded half of the 555 million shares available in the public market post-IPO.
Volatility persisted into after-hours trading, where SpaceX’s valuation briefly surpassed Amazon’s market cap for a second time before declining again.
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SpaceX briefly surpassed Amazon to become the world’s fifth most valuable company, nearly overtaking Microsoft, before its shares retreated from those highs before the market closed on Tuesday.
Following a 20% jump on its first full trading day, SpaceX’s stock surged further on Tuesday. News of the acquisition of AI coding firm Cursor, combined with the launch of options trading, pushed the valuation to $2.9 trillion before settling lower.
This surge occurred despite SpaceX reporting a $4.9 billion loss on $18.7 billion in revenue last year, contrasting sharply with Amazon’s $78 billion profit on $717 billion in sales. However, SpaceX has recently secured compute leasing deals with Anthropic and Google, and expects to integrate Cursor’s revenue once the deal closes in the third quarter.
Although the Anthropic and Google agreements are non-binding, investors remain optimistic. Since its IPO on Friday, Elon Musk’s space and AI company has seen its valuation increase by approximately $1 trillion.
The transaction raised nearly $86 billion for SpaceX, largely driven by the promise of building a trillion-dollar AI business—a bold assertion for a company that recently dismantled its existing AI division to rebuild it from scratch.
SpaceX first announced its collaboration with Cursor in April, when Musk stated that his AI venture, xAI (now part of SpaceX), “was not built right [the] first time around” and needed to be reconstructed “from the foundations up.” The acquisition is valued at $60 billion in SpaceX shares.
SpaceX’s historic IPO launched with a valuation of roughly $1.7 trillion, generating nearly $86 billion for Musk’s company. With only 4% of total shares available for public trading, experts warned the stock would be prone to significant volatility.
This prediction proved accurate on Tuesday, as traders exchanged over 300 million SpaceX shares. According to Nasdaq data, this volume exceeded half of the 555 million shares available in the public market post-IPO.
Volatility persisted into after-hours trading, where SpaceX’s valuation briefly surpassed Amazon’s market cap for a second time before declining again.
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