SpaceX briefly overtook Amazon to develop into the world’s fifth-highest-valued firm and almost overtook Microsoft, however the firm’s inventory reversed these features earlier than the market closed on Tuesday.
The newly listed firm’s inventory value had already risen 20% on Monday, its first full day of buying and selling. Tuesday’s information that SpaceX would purchase AI coding firm Cursor and the beginning of choices buying and selling on SpaceX inventory despatched the inventory greater, pushing its valuation to $2.9 trillion, however it will definitely subsided.
That is all even supposing SpaceX posted a lack of $4.9 billion on gross sales of $18.7 billion final 12 months, in comparison with Amazon, which made a revenue of $78 billion in 2025 on gross sales of $717 billion in 2025. Nevertheless, SpaceX has just lately added a brand new income stream within the type of computing lease offers with Anthropic and Google, which is able to soak up income from Cursor when the deal closes within the third quarter.
Anthropic and Google’s settlement is not binding, however traders do not appear to care in both case. Elon Musk’s house and AI firm has elevated in valuation by about $1 trillion since going public on Friday.
The deal gave SpaceX almost $86 billion in new capital, largely based mostly on the promise of making an AI enterprise value trillions of {dollars}. That is a wild declare for a corporation that just lately utterly dismantled its AI division.
SpaceX first introduced its partnership with Cursor in April, when Musk stated his AI firm xAI (now a part of SpaceX) was “not constructed proper from the start” and was rebuilding it “from the bottom up.” SpaceX is making acquisitions with $60 billion value of its personal inventory.
SpaceX’s historic IPO debuted at a valuation of about $1.7 trillion, a deal that raised almost $86 billion for Musk’s firm. Solely about 4% of SpaceX’s whole inventory was accessible for buying and selling, which consultants predicted would make the inventory extra unstable.
That gave the impression to be the case Tuesday, with merchants exchanging greater than 300 million shares of SpaceX inventory all through the buying and selling day. That represents greater than half of the 555 million shares accessible on the general public market after the IPO, in line with information from the Nasdaq inventory change.
The volatility continued in after-hours buying and selling, with SpaceX’s valuation briefly climbing again above Amazon’s market cap earlier than falling once more.
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