SpaceX valuation hits $2.6T, briefly surpasses Amazon after IPO
SpaceX briefly eclipsed Amazon and nearly Microsoft, driven by AI deals and stock volatility.
Deep Dive
SpaceX, now public, briefly became the fifth-most valuable company with a $2.9T valuation after surging on news of acquiring AI coding company Cursor ($60B in shares) and compute leasing deals with Anthropic and Google. Despite a $4.9B loss on $18.7B revenue last year, the IPO raised $86B. Shares swung wildly, with 300M traded on Tuesday alone, before settling back below Amazon's market cap.
Key Points
- SpaceX valuation peaked at $2.9T before settling to $2.6T, briefly passing Amazon and nearly Microsoft.
- The company raised $86B in its IPO and is acquiring Cursor for $60B in shares, boosting AI ambitions.
- Despite a $4.9B loss on $18.7B revenue, investors bet on compute leasing deals with Anthropic and Google.
Why It Matters
SpaceX's trillion-dollar AI bet shows investors prioritize future revenue streams over current profitability, reshaping valuation norms.