SpaceX's valuation swelled to $2.6 trillion shortly after its shares began trading on Friday, briefly eclipsing Amazon before pulling back. The milestone marks a staggering $1 trillion increase in market value for the private space company since trading opened.
The surge reflects intense investor appetite for the Elon Musk-led firm, which dominates the commercial launch market and operates the Starlink satellite broadband network. Market watchers described the jump as unprecedented for a private company of this scale.
TechCrunch reported the $2.6 trillion figure occurred intraday, meaning the valuation fluctuated and did not hold at close. The company remains privately held, with shares only available through special trading windows on secondary markets.
At its peak, SpaceX's market cap rivaled that of Amazon, one of the world's largest public companies at roughly $2.7 trillion. The brief crossing underscores how private company valuations can diverge sharply from public market norms.
Some analysts caution that thin trading volumes in private markets can inflate valuations. The sustainability of SpaceX's $2.6 trillion price tag remains uncertain without a public listing.