Elon Musk's SpaceX has surpassed Amazon to become the fifth-most valuable company in the world. According to TechCrunch, the aerospace and AI company has a valuation of more than $2.7 trillion.
SpaceX went public on Friday with an IPO valuation of around $1.7 trillion, raising $86 billion. In the days since, it has added roughly $1 trillion in market value. The stock climbed 20% on Monday and another 8% in early trading Tuesday, after the company announced a $60 billion acquisition of AI coding startup Cursor in an all-stock deal.
The valuation jump is notable given SpaceX's current finances. Amazon turned a $78 billion profit in 2025 on $717 billion in sales. SpaceX posted a $4.9 billion loss on $18.7 billion in revenue. Yet investors are buying the stock. The company's new revenue streams from compute leasing deals with Anthropic and Google, and its moves into AI, have attracted significant interest on Wall Street.
One factor explaining the volatility: SpaceX released only about 4% of its total shares for public trading during the IPO. The limited float has created the conditions for sharp stock swings.
The Cursor acquisition came days after Musk said his xAI company (now merged into SpaceX) "was not built right the first time around" in April. He is now investing heavily in a rebuild.
SpaceX ranks behind only Apple, Microsoft, Saudi Aramco, and Alphabet in global market value.
