SpaceX Gains 4% After Surpassing Amazon in Market Cap

SpaceX shares rose 4% in premarket trading on Wednesday, extending a rally that pushed the company's market cap to $2.65 trillion at Tuesday's close and above Amazon's valuation. The Elon Musk-led company briefly surpassed Microsoft to become the fourth-largest U.S. company by market capitalization on Tuesday. Investors are betting on Musk's ability to drive long-term returns, fueling a 62% stock surge since the company's IPO on Friday.

SpaceX Surpasses Amazon in Market Capitalization

Consistent gains for SpaceX this week pushed its market cap above Amazon on Tuesday. At Tuesday's close, SpaceX had a market cap of $2.65 trillion. The company briefly surpassed Microsoft to become the fourth-largest company by valuation in the U.S.

SpaceX Reports $4.9 Billion Net Loss in 2025

SpaceX posted a $4.9 billion net loss in 2025. The company lost $4.28 billion in the first quarter of this year. The losses come as the company has become dominant in satellites through its Starlink service and reusable rockets.

Musk Posts $1 Trillion Revenue Target for 2030

Musk posted on X on Sunday that the company "might be able to reach approximately" $1 trillion revenue in 2030. The post came as SpaceX shares continued their rally following the Friday IPO.

Analyst Questions Valuation Against Fundamentals

Peter Boockvar, chief investment officer at One Point BFG Wealth Partners, said on CNBC's "Squawk Box Asia" that investors are "trading the story, they're trading the action, they're trading the excitement, they're trading Elon Musk, but at some point the rubber meets the road in terms of the fundamentals having to match up with that excitement." Boockvar added that "if they can deliver, then the upside is certainly there, but the valuation is so enormous that the company is going to really have to show itself in growing into that valuation." He said "that's going to take at least a couple of years."

FAQ

What did SpaceX's market cap reach on Tuesday?

SpaceX's market cap reached $2.65 trillion at Tuesday's close, surpassing Amazon and briefly exceeding Microsoft to become the fourth-largest U.S. company by valuation.

What were SpaceX's financial losses in 2025 and Q1?

SpaceX posted a $4.9 billion net loss in 2025 and lost $4.28 billion in the first quarter of this year.

What revenue target did Musk post for SpaceX in 2030?

Musk posted on X on Sunday that SpaceX "might be able to reach approximately" $1 trillion revenue in 2030.