SpaceX is extending a powerful post-IPO surge, lifting its valuation into the top tier of U.S. listed companies. The stock rises 4% in premarket trading on Wednesday after gains this week push the company past Amazon by market capitalization and briefly above Microsoft.
Highlights
- SpaceX shares have surged about 62% since Friday's IPO, pushing its market valuation to $2.65 trillion and overtaking Amazon by Tuesday’s close.
- Elon Musk projects SpaceX might reach approximately $1 trillion in revenue by 2030, fueling bullish investor expectations for long-term growth.
- SpaceX reported a $4.9 billion net loss in 2025 and lost $4.28 billion in Q1 this year, raising questions about fundamentals versus soaring valuation.
Post-IPO rally lifts valuation
As reported by CNBC, investors continue to drive SpaceX shares higher after the company’s blockbuster IPO on Friday, with the stock up about 62% since then. By Tuesday’s close, SpaceX reaches a market capitalization of $2.65 trillion, enough to move ahead of Amazon and, for a period, surpass Microsoft as the fourth-largest company by valuation in the U.S.The rally reflects strong investor confidence in founder and CEO Elon Musk’s ability to generate long-term returns. Musk said in a post on X on Sunday that the company “might be able to reach approximately” $1 trillion in revenue in 2030, adding to bullish expectations around its growth story.
Losses and execution risks remain in focus
Despite the sharp rise in valuation, SpaceX is still posting significant losses. The company records a $4.9 billion net loss in 2025 and loses $4.28 billion in the first quarter of this year.That gap between current fundamentals and market expectations is drawing scrutiny as SpaceX expands its dominance in satellites through Starlink and in reusable rockets. Peter Boockvar, chief investment officer at One Point BFG Wealth Partners, tells CNBC’s “Squawk Box Asia” that investors are trading on excitement and on Musk’s profile, but the company will ultimately need to prove that its fundamentals can support such a large valuation over the next several years.
Our earlier report on the post-SpaceX IPO market fallout explained how fund issuers were rushing to package investor demand into new, highly concentrated AI-themed ETFs. We noted that proposed products tied to the social-media-driven “MANGOS” basket aim to capture momentum in a small cluster of AI-exposed names, highlighting how quickly Wall Street is building investable themes around headline IPOs and growth narratives.
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