SpaceX has seen its valuation soar to approximately $2.6 trillion, momentarily placing it ahead of Amazon as the fifth-most valuable company globally. This surge occurred shortly after the company's shares began trading publicly.
On its first full trading day, SpaceX's stock jumped by 20%. The announcement of its acquisition of AI coding firm Cursor, combined with the commencement of options trading, further propelled its share price, peaking at $2.9 trillion before settling back.
Despite reporting a $4.9 billion loss against $18.7 billion in revenue last year, SpaceX's recent partnerships with Anthropic and Google have opened new revenue avenues. The acquisition of Cursor is expected to contribute additional revenue once finalized in the third quarter.
Investors have shown optimism, adding roughly $1 trillion to SpaceX's valuation since its IPO. This transaction generated nearly $86 billion in fresh capital, largely based on ambitious projections for its AI business.
SpaceX's IPO debuted with a valuation around $1.7 trillion, offering only 4% of its total shares for public trading, which analysts warned could lead to significant price fluctuations. This volatility was evident as over 300 million shares changed hands during trading, more than half of the available shares.
After-hours trading continued to reflect this volatility, with SpaceX's valuation briefly surpassing Amazon's market cap again before declining.
