SpaceX has ascended to become the world's fifth most valuable company, surpassing Amazon, following a significant surge in its stock price. This included a 20% increase on Monday and an additional rise of over 8% in early Tuesday trading, pushing its market capitalization beyond $2.7 trillion.
This remarkable achievement comes despite a stark contrast in recent financial performance: Amazon reported a substantial $78 billion profit in 2025 from $717 billion in sales last year, while SpaceX posted a $4.9 billion loss on revenues of $18.7 billion. However, SpaceX has diversified its income streams, notably securing compute leasing agreements with Anthropic and Google. The company's valuation has seen an impressive gain of $1 trillion since its public debut on Friday.
The surge in stock price on Tuesday was primarily driven by SpaceX's announcement of its acquisition of AI coding startup Cursor in an all-stock transaction valued at $60 billion. SpaceX had previously disclosed a collaboration with Cursor in April, coinciding with CEO Elon Musk's statement that his AI venture, xAI — which has since been integrated into SpaceX — "was not built right the first time around" and required rebuilding "from the foundations up."
SpaceX's landmark initial public offering saw it enter the market with an initial valuation of approximately $1.7 trillion, successfully raising nearly $86 billion for Elon Musk's enterprise. Notably, only about 4% of the company's total shares were made available for public trading, a factor that market analysts had anticipated would contribute to increased volatility in the stock's performance.
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