SpaceX becomes one of the top five U.S. public companies by market value after its stock rises 6% in early trading.
SpaceX’s market capitalization reached $2.84 trillion in pre-market trading Tuesday, briefly exceeding $3 trillion and overtaking Amazon. Shares traded at $213, up from an IPO price of $135, after a 6% gain Monday following a 19% jump the prior session.
The company raised $75 billion in its record-setting IPO, closing Friday at $161 and surpassing a $2 trillion valuation. SpaceX’s portfolio includes Starlink, reusable rockets, and Elon Musk’s xAI, which added data centers and the Grok AI models.
First-quarter capital spending surged to $10.1 billion, more than double the $4.1 billion spent in the same period last year, driven by AI investments. Analysts remain split, with CFRA assigning a sell rating and a $115 target.