SpaceX is now worth more than Amazon after gaining $1 trillion in market value

SpaceX has achieved another milestone just days after its historic stock market debut. The company has surpassed Amazon in market value after a surge in its share price pushed its valuation above $2.7 trillion. The rally has added roughly $1 trillion to SpaceX's value since it went public last week, making it the fifth-most valuable company in the world.

The rapid rise has attracted attention because SpaceX's financial profile looks very different from many of the companies it now rivals. While Amazon generated around $78 billion in profit on $717 billion in revenue during 2025, SpaceX reported a loss of $4.9 billion on revenue of $18.7 billion. Yet investors continue to push the stock higher.

Why SpaceX shares are rising so quickly

The latest jump came after SpaceX announced plans to acquire AI coding startup Cursor in a $60 billion all-stock deal. The acquisition is seen as a major step in the company's effort to strengthen its artificial intelligence business. Investors appear to be focusing less on current earnings and more on SpaceX's long-term growth potential. The company has increasingly positioned itself as more than a space and satellite operator. It is now promoting opportunities in artificial intelligence, computing infrastructure and enterprise software.

That broader vision is helping fuel investor enthusiasm.

The AI factor behind SpaceX's valuation

Artificial intelligence has become a central part of the SpaceX investment story.

Earlier this year, Elon Musk's AI company, xAI, became part of SpaceX's wider business structure. Since then, the company has highlighted massive opportunities in AI infrastructure and enterprise applications. SpaceX has argued that its addressable AI market could eventually be measured in trillions of dollars.

The Cursor acquisition fits directly into that strategy

Cursor has emerged as one of the fastest-growing AI coding platforms and is viewed as a key player in the rapidly expanding market for autonomous software development tools. For investors, the deal signals that SpaceX intends to compete aggressively in AI rather than remain focused solely on rockets and satellites.

A historic IPO with unusual characteristics, SpaceX's public listing was already attracting attention before the stock surge. The company debuted with a valuation of roughly $1.7 trillion and raised nearly $86 billion through the offering. However, only around 4 per cent of SpaceX's shares were made available for public trading.

Market analysts had warned that such a limited float could lead to significant price swings because a relatively small amount of buying or selling activity could have a larger impact on the share price.

That prediction appears to be playing out.

Since listing, SpaceX shares have experienced sharp gains as investor demand continues to outpace available supply.

Overtaking Amazon is symbolically significant. Amazon is one of the most profitable and influential companies in the world, with businesses spanning e-commerce, cloud computing, logistics, advertising and artificial intelligence. SpaceX, by comparison, remains a much younger company with significantly lower revenue and ongoing losses. The gap highlights how investors are increasingly valuing future growth opportunities rather than current financial performance. Supporters believe SpaceX's position in space technology, satellite communications and artificial intelligence could create enormous long-term value.

The next test for SpaceX

The company's soaring valuation now places even greater pressure on management to deliver. Investors will be watching closely to see whether SpaceX can successfully integrate Cursor, expand its AI operations and justify the ambitious forecasts that helped drive its share price higher.

For now, however, the market appears convinced. Just days after completing the largest IPO in history, SpaceX has overtaken Amazon and joined the ranks of the world's most valuable companies.