SpaceX Extends Historic Post-IPO Rally

SpaceX continued its remarkable ascent on Tuesday, gaining roughly 4% as investors poured into shares of Elon Musk’s aerospace and artificial intelligence company.

The rally briefly pushed SpaceX’s market capitalization to approximately $2.94 trillion, allowing it to surpass Microsoft during intraday trading and become the fourth-largest publicly traded company in the United States by market value.

Although the stock retreated later in the session, SpaceX still finished with a market capitalization of approximately $2.65 trillion, enough to move ahead of Amazon and cement its position among the world’s most valuable corporations.

Market Value Climbs Beyond Amazon

The rapid rise highlights the extraordinary investor enthusiasm surrounding SpaceX following its historic initial public offering.

Shares have climbed roughly 62% above their IPO price of $135, significantly outperforming many established technology giants. For comparison, Amazon shares have gained about 45% over the last five years, while SpaceX has achieved a larger increase within days of becoming publicly traded.

Despite the impressive gains, Apple remains well ahead as the third-largest U.S. company, carrying a market capitalization approaching $4.4 trillion.

AI Expansion Accelerates Growth Story

Adding to investor excitement, SpaceX announced plans to acquire artificial intelligence coding startup Cursor in a deal valued at $60 billion.

The acquisition is expected to strengthen SpaceX’s position in the rapidly evolving AI industry and enhance its capabilities in software development, autonomous systems, and advanced computing infrastructure.

The move follows Elon Musk’s broader strategy of integrating artificial intelligence across his business ecosystem after merging SpaceX with xAI and previously combining xAI with social platform X.

Revenue Ambitions Capture Investor Attention

Investor enthusiasm has also been fueled by Musk’s ambitious long-term outlook.

Over the weekend, Musk stated that SpaceX could potentially generate approximately $1 trillion in annual revenue by 2030.

Such growth would represent an extraordinary leap from the company’s 2025 revenue of $18.7 billion. While SpaceX remains unprofitable, reporting a net loss of $4.9 billion in 2025 and a first-quarter loss of $4.28 billion this year, investors appear focused on its future opportunities rather than current earnings.

The company continues to dominate several high-growth markets, including satellite internet through Starlink, reusable rocket launches, space infrastructure, and artificial intelligence applications.

Wall Street Divided on Valuation

Despite the strong momentum, not all analysts are convinced the current valuation is sustainable.

Research firm CFRA initiated coverage with a sell rating and a 12-month price target of $115, arguing that expectations have become overly aggressive given the company’s ambitious expansion plans, substantial capital requirements, and execution risks.

Some market observers also warn that investors may become less patient if SpaceX fails to deliver the aggressive growth projections outlined during its public offering process.

Long-Term Vision Remains the Bull Case

Supporters of the stock argue that traditional valuation metrics fail to capture the scale of SpaceX’s long-term opportunities.

Bullish analysts point to emerging industries such as orbital data centers, global satellite communications, artificial intelligence infrastructure, autonomous systems, and future space-based commerce as potential drivers of substantial growth over the coming decades.

As investors increasingly focus on what many describe as the next industrial revolution, SpaceX has become one of the market’s most closely watched companies, with its future performance likely to influence sentiment across technology, aerospace, and artificial intelligence sectors.