SpaceX valuation briefly hits $2.9T, passes Amazon
On Tuesday, SpaceX's valuation soared to $2.9 trillion, momentarily making it the fifth-most valuable company in the world, before it stabilized. This surge followed the announcement of its acquisition of AI coding company Cursor and the initiation of options trading. Last year, despite a $4.9 billion loss against $18.7 billion in revenue, SpaceX's worth has been supported by new income avenues, such as compute leasing agreements with Google and Anthropic. The company's landmark IPO generated nearly $86 billion, with only 4% of shares available for trading, causing significant volatility. Over 300 million shares changed hands on Tuesday, representing more than half of the 555 million shares available post-IPO, briefly surpassing Amazon's market cap again in after-hours trading.
Key facts
- SpaceX briefly became the fifth-most valuable company globally, passing Amazon.
- Valuation spiked to $2.9 trillion on Tuesday before settling back.
- Stock surged after news of acquiring AI coding company Cursor and start of options trading.
- SpaceX posted a $4.9 billion loss on $18.7 billion in revenue last year.
- New revenue streams include compute leasing deals with Anthropic and Google.
- IPO raised nearly $86 billion, with only 4% of shares available for trading.
- Over 300 million shares traded on Tuesday, more than half of the 555 million available.
- Valuation briefly eclipsed Amazon's market cap again in after-hours trading.
Entities
Institutions
- SpaceX
- Amazon
- Microsoft
- Cursor
- Anthropic
- xAI
- Nasdaq
- Themis Trading