SpaceX vaults past Amazon and briefly overtakes Microsoft in market value

Elon Musk’s SpaceX has rocketed into the top tier of global markets, overtaking Amazon and at times even Microsoft in market capitalisation just days after its blockbuster Nasdaq debut.

SpaceX shares jumped again on Tuesday, lifting the company’s valuation to around 2.8–2.9 trillion dollars during intraday trade, enough to push it decisively ahead of Amazon’s roughly 2.64 trillion dollars and briefly edge past Microsoft’s near 2.93 trillion dollar market cap. The stock later gave up some gains but still closed as one of the world’s most valuable listed companies, only behind the likes of Nvidia and Apple in the global pecking order.

The surge extends a frenzied post-IPO rally fuelled by retail FOMO, heavy options trading and investor enthusiasm for SpaceX’s mix of launch, satellite broadband and artificial intelligence ambitions. Analysts say the market is pricing in not just the company’s dominant reusable-rocket business and Starlink’s recurring revenues, but also its recent 60 billion dollar deal for AI coding startup Cursor, which investors see as a wedge into the hyperscale AI infrastructure race.

The valuation leap also sharpens scrutiny of SpaceX’s fundamentals. At current levels, the company trades at revenue and profit multiples well above most established tech giants, raising questions about whether earnings, launch cadence and Starlink cash flows can keep pace with investor expectations once IPO lock-ups expire. Regulators and institutional investors will also be watching how SpaceX balances capital-intensive projects like deep-space missions and next-generation rockets with the demands of public-market discipline.

For now, the message from markets is clear: within three trading sessions, a former private space upstart has leapfrogged a 31‑year‑old e‑commerce behemoth and momentarily eclipsed a half‑century‑old software giant—underlining how quickly investor narratives in tech and AI can be rewritten.
BCS Bureau