Elon Musk's SpaceX has officially overtaken Amazon to become the fifth most valuable company in the world — and it happened in less than a week.
Just days after making history on the Nasdaq stock exchange in the biggest public listing ever recorded, SpaceX shares have surged more than 50%, pushing its market value to approximately $2.78 trillion.
Amazon, built by Jeff Bezos over three decades into one of the most recognised brands on earth, now sits just behind at $2.66 trillion.
From $135 to $209 — In Days
SpaceX priced its shares at $135 each when it first went public on Friday. By this week, those same shares were trading at $209.
The listing itself raised $85.7 billion — and in doing so, made Musk the world's first trillionaire.
Wall Street's enthusiasm has been hard to miss. But not everyone is convinced the numbers add up.
The Profit Gap Nobody Is Ignoring
Here is where things get complicated.
| Metric | SpaceX | Amazon |
|---|---|---|
| Q1 2026 Profit | -$4.3bn (loss) | +$30.3bn |
| 2025 Revenue | $18.67bn | $716.9bn |
| Market Cap | ~$2.78tn | ~$2.66tn |
Amazon made $30.3 billion in profit in just the first quarter of 2026. SpaceX, by contrast, lost $4.3 billion in the same period.
In full-year revenue for 2025, Amazon pulled in $716.9 billion. SpaceX recorded $18.67 billion.
Yet investors are valuing SpaceX higher. That tells you everything about what this market is betting on — not today's earnings, but tomorrow's possibilities.
$60 Billion Cursor Deal
A major catalyst behind the latest share surge was SpaceX's announcement that it is acquiring Cursor — an AI coding assistant — for $60 billion.
Cursor is made by Anysphere, and it is already used by major companies including Stripe, Adobe, and Nvidia. Nvidia chief Jensen Huang has publicly called it his "favourite enterprise AI service."
SpaceX and Cursor have been working together since April, when Musk's company secured an option to either buy the startup outright or pay $10 billion for prior collaboration work.
The deal is expected to close by end of September, with Cursor shareholders receiving $60 billion in SpaceX stock.
Why Investors Are All In
SpaceX is not just a rocket company. It operates Starlink, a fast-growing satellite internet business. It is building out xAI, the artificial intelligence division behind the Grok chatbot. And its long-term pitch — AI data centres in space and human colonisation of Mars — has captured investor imagination in a way few companies ever have.
Analysts, however, are flagging the risk. The gap between SpaceX's current financials and its sky-high valuation is enormous. Sustaining this share price will require the company to execute on bets that have never been made before.
If you are tracking how AI is reshaping company valuations and investment strategies, our guide on nvidia stock and how to invest is worth reading — as is our breakdown of cheap cryptocurrency with high potential for those watching speculative markets closely.
The Bigger Picture
SpaceX passing Amazon is not just a headline. It is a signal of how radically investor priorities have shifted — from proven revenue machines to moonshot technology bets.
Amazon built its valuation over 30 years of relentless execution. SpaceX got here in four trading days.
Whether that holds is the question every serious investor should be asking right now.
Reported by the WealthBlueprint NewsDesk. Sources: Reuters, public market data, SpaceX corporate announcements.