SpaceX passes Amazon as valuation balloons to $2.7T

SpaceX surpassed Amazon to become the world's fifth-most valuable company with a $2.7 trillion valuation, driven by a 20% stock surge on Monday and further gains Tuesday after announcing a $60 billion acquisition of AI startup Cursor. The milestone comes despite SpaceX posting a $4.9 billion loss on $18.7 billion in revenue, contrasting with Amazon's $78 billion profit on $717 billion in sales. SpaceX's valuation has swelled by $1 trillion since its IPO last Friday, which raised nearly $86 billion.

SpaceX passed Amazon to become the fifth-most valuable company in the world, after its stock price climbed 20% on Monday and more than 8% in early trading Tuesday, bringing its valuation to more than $2.7 trillion. That’s despite Amazon turning a $78 billion profit in 2025 on $717 billion in sales last year, compared to SpaceX’s $4.9 billion loss on $18.7 billion in revenue. SpaceX has recently added new revenue streams in the form of compute leasing deals with Anthropic and Google, though, and the company has added $1 trillion to its valuation since going public on Friday. Tuesday’s stock price jump came after SpaceX announced https://techcrunch.com/2026/06/16/spacex-to-acquire-cursor-for-60b-in-stock-days-after-blockbuster-ipo/ it is acquiring AI coding startup Cursor in an all-stock deal worth $60 billion. SpaceX first revealed a collaboration with Cursor in April, at a time when CEO Elon Musk said his AI company xAI — now a part of SpaceX — “was not built right the first time around” and that he was rebuilding it “from the foundations up.” SpaceX’s historic IPO saw it debut with a valuation of around $1.7 trillion, and the transaction raised https://techcrunch.com/2026/06/15/spacexs-biggest-ever-ipo-just-grew-to-85-7-billion-raised/ nearly $86 billion for Musk’s company. SpaceX only made about 4% of its total shares available for trading, which experts predicted would make the stock more susceptible to wild swings.