New York: Elon Musk’s SpaceX has surged past Amazon in market capitalization just days after its blockbuster stock market debut, becoming one of the world’s most valuable publicly traded companies. The remarkable rally has propelled the aerospace and technology giant into the ranks of corporate heavyweights and reinforced investor enthusiasm surrounding Musk’s expanding business empire.
SpaceX shares climbed nearly 5% on June 16, closing at $201.80 and giving the company a market valuation of approximately $2.65 trillion. The figure placed it slightly ahead of Amazon’s market value and briefly above Microsoft during intraday trading before settling back. The company has added hundreds of billions of dollars in value since its record-breaking initial public offering last week.
The rally has been driven by intense investor demand, strong trading activity and growing optimism about SpaceX’s future prospects in sectors ranging from space exploration and satellite communications to artificial intelligence. The launch of options trading in SpaceX shares further fueled buying interest, with more than one million contracts reportedly changing hands during the first day of options activity.
Investors have also responded positively to the company’s plans to strengthen its artificial intelligence capabilities. Recent announcements regarding major AI-related acquisitions and strategic initiatives have reinforced expectations that SpaceX intends to become a significant player not only in aerospace but also in advanced technology and AI development.
The company’s rise has been extraordinary. SpaceX was valued at around $1.75 trillion when it priced its IPO earlier this month at $135 per share. Within days of listing, the stock had surged more than 50%, pushing its market capitalization above some of the largest corporations in the world.
Analysts believe additional gains may be possible as SpaceX is expected to be added to major stock market indexes, including the Nasdaq-100, FTSE Russell and MSCI benchmarks later this month. Such inclusions could trigger additional demand from passive investment funds and exchange-traded funds that track those indexes.
Despite the enthusiasm, some market experts have urged caution. They note that SpaceX’s valuation has expanded rapidly even though the company reported annual revenue of about $18.7 billion and a net loss of nearly $5 billion following its merger with xAI. Concerns have also been raised about volatility because only a relatively small portion of the company’s shares are currently available for public trading.
Nevertheless, investor confidence remains strong, reflecting belief in the long-term potential of SpaceX’s businesses, including Starlink satellite internet services, launch operations, artificial intelligence initiatives and future space exploration projects. The company’s rapid ascent has also further enhanced Elon Musk’s position as one of the most influential figures in global business and technology.
With Amazon now overtaken and Microsoft briefly surpassed during trading, attention is turning to whether SpaceX can continue its momentum and challenge the world’s most valuable companies, including Apple, Alphabet and Nvidia. For now, the company’s extraordinary post-IPO performance has become one of the biggest stories in global financial markets.
