SpaceX briefly ascended to the fifth-most valuable company in the world, nearly eclipsing Microsoft before settling back down. Its stock climbed 20% on its first full trading day and soared further after acquiring AI coding firm Cursor and launching options trading.
The valuation spike came despite SpaceX’s $4.9 billion loss on $18.7 billion revenue last year, a stark contrast to Amazon's $78 billion profit on $717 billion in sales. However, new deals with Anthropic and Google promise fresh streams of income.
Since its IPO on Friday, SpaceX has added roughly $1 trillion to its valuation. The transaction netted the company nearly $86 billion, largely based on Musk’s ambitious plans for an AI business worth trillions. This follows the recent restructuring of his xAI division into a part of SpaceX.
The historic IPO saw SpaceX debut with a valuation of around $1.7 trillion and raise nearly $86 billion for Musk's company. The stock’s volatility was evident, with more than 300 million shares traded throughout the day, over half of those available post-IPO.
