New York: SpaceX has surpassed Amazon in market value after a strong rally in its share price following its listing on the Nasdaq stock exchange. The company is now valued at approximately $2.78 trillion (£2.1 trillion), ahead of Amazon’s estimated value of $2.66 trillion (£2 trillion).
Investor enthusiasm has driven the rise, with SpaceX shares climbing by more than 50 percent since trading began. The company’s public listing raised $85.7 billion (£64.5 billion), while also making founder Elon Musk the world’s first trillionaire.
The latest boost to SpaceX came after the company announced plans to acquire artificial intelligence coding start-up Cursor in a deal worth $60 billion (£45.3 billion). Cursor’s parent company, Anysphere, develops AI-powered software tools designed to assist engineers with coding tasks.
SpaceX has attracted investor interest through ambitious projects ranging from reusable rocket technology and Starlink satellite internet services to plans involving artificial intelligence infrastructure and future missions to Mars. The company has also expanded its presence in the AI sector through xAI, the business behind the Grok chatbot.
Despite its soaring valuation, analysts have pointed out that SpaceX’s financial performance remains significantly smaller than Amazon’s. Amazon reported profits of $30.3 billion (£22.9 billion) during the first quarter of 2026 and generated annual sales of $716.9 billion (£541.4 billion) in 2025. By comparison, SpaceX reported a loss of $4.3 billion (£3.2 billion) and revenue of $18.67 billion (£14.1 billion).
Market experts have suggested that investors are placing value on the company’s future potential rather than its current financial results. The acquisition of Cursor is expected to strengthen SpaceX’s artificial intelligence capabilities as the company seeks to compete more aggressively in the rapidly growing AI industry.
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