SpaceX surpasses Taiwan Semiconductor in valuation after its second trading day, reaching $2.5 trillion despite lower revenue and net losses.
SpaceX (NASDAQ: SPCX) became the world’s sixth most valuable company, topping $2.5 trillion in market capitalization after its second trading day. The milestone places it ahead of Taiwan Semiconductor Manufacturing (NYSE: TSM), which reported $35.9 billion in quarterly revenue and $18.2 billion in net income.
SpaceX generated $18.67 billion in 2025 revenue and posted a $4.94 billion net loss. Its valuation surge follows a $75 billion raise from selling 555 million shares at $135 each, plus an additional $10.7 billion from underwriters exercising options. The float represents roughly 5% of its total shares, with early investors poised to sell more.
The stock’s rapid ascent reflects strong demand, though its valuation contrasts sharply with TSMC’s profitability. Market reaction remains focused on SpaceX’s growth potential amid a limited public float.