SpaceX valuation balloons to $2.6T, briefly passes Amazon

SpaceX briefly became the world’s fifth-most valuable company as its valuation spiked to $2.9T before closing around $2.6T. The rally followed its first full trading day, the start of options trading, and news of a $60B stock-based acquisition of Cursor, despite SpaceX reporting a $4.9B loss last year.

The surge shows investors are pricing SpaceX less like a space company and more like a speculative AI infrastructure platform. Limited public float, options activity, and non-binding compute deals suggest momentum and scarcity may be driving valuation as much as fundamentals.