MilestoneJun 16, 2026, 15:57 UTC

SpaceX hits $2.7T valuation, overtakes Amazon

What's the deal? SpaceX stock jumped more than 8% to around $208.90 — over 54% above its $135 IPO price — pushing its market cap to roughly $2.75 trillion and edging past Amazon ($2.66T) to become the world's fifth-largest company. It trails only the names above $2.95T, with the top three each exceeding $4 trillion.

Why now? The move extends a sharp post-IPO rally — SpaceX (ticker SPCX) only listed last week and just exercised its greenshoe option, lifting total IPO proceeds to $85.7 billion from $75 billion. Demand has been frenzied: more than $3 billion of shares changed hands by mid-morning, several times the combined volume in Nvidia, Microsoft, Tesla and Apple. Fast-track inclusion in the Nasdaq 100 — plus FTSE Russell (June 26) and MSCI (June 29) additions — sets up fresh passive-fund demand.

What could go wrong? The valuation sits well ahead of the fundamentals: SpaceX reported $18.67 billion in sales last year and a $4.94 billion net loss after merging with money-losing xAI. "This valuation makes absolutely no sense today. People are buying SpaceX in the expectation that others will buy too and push the price higher — that's speculation," said Ipek Ozkardeskaya of Swissquote Bank. A small float and high price point to heavy volatility early in its public life.

The signal: Investors are willing to assign enormous valuations to infrastructure platforms — led by the Starlink satellite-internet business — they believe will define the next era of connectivity and compute. On the same day, SpaceX also agreed to acquire AI coding company Anysphere (Cursor) for $60 billion, trimming some of the day's gains.