SpaceX passes Amazon as valuation balloons to $2.7T

In a remarkable turn of events, SpaceX has overtaken Amazon to secure its position as the fifth-most valuable company globally. This milestone was achieved after a significant 20% surge in its stock price on Monday, followed by an additional 8% rise in early Tuesday trading, elevating its valuation to over $2.7 trillion. This achievement is particularly striking given Amazon’s impressive financial performance, reporting a profit of $78 billion on revenues of $717 billion in 2025. In stark contrast, SpaceX recorded a loss of $4.9 billion with revenues totaling $18.7 billion. However, SpaceX has diversified its income streams recently through compute leasing agreements with tech giants like Anthropic and Google, contributing to a staggering $1 trillion increase in its valuation since going public just last Friday. The recent spike in stock price followed SpaceX's announcement of its acquisition of the AI coding startup Cursor in a $60 billion all-stock deal. This move builds on an earlier collaboration disclosed in April, during which CEO Elon Musk mentioned that his AI initiative, xAI — now part of SpaceX — was undergoing significant restructuring. SpaceX made a historic debut with an initial valuation of approximately $1.7 trillion, raising nearly $86 billion through the IPO. With only about 4% of its total shares available for public trading, analysts are cautioning that the stock may be prone to volatility, given the limited supply in the market.