Musk's SpaceX surges past Amazon in market cap after historic IPO debut
SpaceX’s stock surged 11% in premarket trading Wednesday, pushing its market capitalization past Amazon’s $2.66 trillion and briefly above Microsoft’s. The rally follows a record $85.7 billion IPO that priced at $135 per share last week, with shares now trading above $192. Elon Musk has framed the company’s ambitions as reaching $1 trillion in revenue by 2030.
What changed
SpaceX’s market cap exceeded Amazon’s for the first time, with shares rallying a third consecutive day and briefly surpassing Microsoft’s valuation.
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SpaceX overtakes Amazon in market cap after IPO surge, nears $3T valuation
confidence 98%SpaceX’s stock surged 11% in premarket trading Wednesday, pushing its market capitalization past Amazon’s $2.66 trillion and briefly above Microsoft’s. The rally follows a record $85.7 billion IPO that priced at $135 per share last week, with shares now trading above $192. Elon Musk has framed the company’s ambitions as reaching $1 trillion in revenue by 2030.
What's confirmed:
- SpaceX’s market capitalization now exceeds Amazon’s $2.66 trillion valuation after its Nasdaq debut and continued trading momentum.
- SpaceX shares rose 11% in premarket trading Wednesday, building on gains from the past two days.
- The company’s IPO priced at $135 per share on June 12, 2026, raising $75 billion initially, with underwriters later lifting total proceeds to $85.7 billion.
- SpaceX’s valuation briefly surpassed Microsoft’s during the rally, marking its entry into Wall Street’s elite club of most valuable companies.
- Elon Musk stated Sunday that SpaceX ‘might be able to reach approximately’ $1 trillion in revenue by 2030.
Still unconfirmed:
- SpaceX’s shares may have briefly topped $3 trillion in valuation during the rally, though exact figures remain fluid.