tech
SpaceX valuation balloons to $2.6T, briefly passes Amazon
SpaceX's valuation has increased by $1 trillion since its shares started trading on Friday.
TL;DR
- SpaceX's stock surged, briefly making it the fifth-most valuable company globally, surpassing Amazon.
- The surge followed the company's IPO and the news of its acquisition of AI coding company Cursor.
- Despite reporting a $4.9 billion loss on $18.7 billion in revenue last year, SpaceX's valuation has grown by about $1 trillion since its public debut.
- New revenue streams include compute leasing deals with Anthropic and Google, and the acquisition of Cursor.
- SpaceX's IPO, with about 4% of shares available for trading, was predicted to lead to stock volatility.
- The company is making the acquisition of Cursor with $60 billion in company shares.