SpaceX has soared ahead of Amazon $AMZN by market capitalization just days after making its market debut to land among the five largest publicly traded firms in the U.S.
The rocket company's stock hit $213 per share in premarket trading on Tuesday, with its market cap reaching $2.84 trillion and briefly exceeding $3 trillion. SpaceX started trading on the Nasdaq $NDAQ last week under the ticker symbol SPCX. The company sold shares at an IPO price of $135 apiece, raising close to $75 billion in what became the largest initial public offering in history.
SpaceX stock rose another 6% on Monday, building on a 19% jump the prior session. Friday's close of $161 pushed the company's market capitalization past $2 trillion, cementing its place as the biggest public offering on record. The company operates the Starlink satellite internet service and a fleet of reusable rockets, and acquired Elon Musk's AI venture xAI in Feb., adding xAI's data centers, its Grok AI models, and ownership of the social platform X $TWTR to its portfolio.
SpaceX's 2025 financials showed revenue of $18.7 billion alongside a net loss approaching $5 billion. First-quarter capital spending more than doubled year over year, hitting $10.1 billion compared with $4.1 billion in the same stretch of 2025, with most of that outlay flowing into AI-related investments.
The IPO is expected to turn more than 4,400 current and former employees into millionaires. Restrictions on selling will apply to more than three-fifths of pre-offering shares, and CEO Elon Musk's shares are locked up for 366 days after the final prospectus was filed.