SpaceX has surged past Amazon in market capitalization, securing a spot as the fourth-largest U.S. company following a blistering post-IPO rally. The rocket maker briefly surpassed Microsoft on an intraday basis before surrendering some gains, according to MarketWatch.
The milestone marks a dramatic ascent for the company, which has ridden a wave of investor enthusiasm since going public. Elon Musk's firm now ranks among the most valuable publicly traded entities globally, a reflection of both its dominant position in space launch and its growing Starlink satellite internet business.
Elon Musk said Sunday that SpaceX "might be able to reach approximately" $1 trillion in revenue by 2030, as reported by CNBC. The company's valuation has been fueled by strong demand for its shares, though specific current market cap figures were not disclosed uniformly across sources.
The rally comes as broader markets are steady, with the Federal Reserve set to begin its latest meeting. Analysts are watching whether SpaceX can sustain its momentum, particularly as competition in the space sector intensifies and regulatory questions remain.
Some investors caution that the stock's rapid rise may outpace fundamentals.