SpaceX briefly surpassed Microsoft in market value, reaching $2.97 trillion amid a 67% rally from its IPO price.
SpaceX’s market value approached $3 trillion Tuesday, briefly overtaking Microsoft and solidifying its place among the top US public companies. At a high of $225.64, the rocket maker was valued at $2.97 trillion, trailing only Nvidia, Alphabet, and Apple, according to market data.
The surge marked a rapid ascent from its $150 opening trade, adding nearly $1 trillion in market value—a 50% gain. From its $135 IPO price, SpaceX rallied 67% by mid-morning Tuesday, outpacing Amazon’s $2.65 trillion valuation and edging past Microsoft’s $2.93 trillion.
The rally followed a record $413 billion one-day gain Monday, the third-largest in recent US market history. Retail trading drove much of the momentum, cementing SpaceX as the biggest IPO of the year.