SUPER HEAVY LIFT: SpaceX valuation balloons to $2.6T, briefly passes Amazon.

The newly public company’s stock had already climbed 20% on Monday — its first full day of trading. Tuesday’s news that SpaceX was acquiring AI coding company Cursor, along with the start of options trading on SpaceX’s shares, sent the share price even higher, spiking its valuation to $2.9 trillion before it ultimately settled back down.

This is all despite the fact that SpaceX posted a $4.9 billion loss on $18.7 billion in revenue last year, compared to Amazon, which turned a $78 billion profit in 2025 on $717 billion in sales in 2025. SpaceX has recently added new revenue streams in the form of compute leasing deals with Anthropic and Google, though, and will absorb the revenue from Cursor when that deal closes in the third quarter.

The Anthropic and Google deals are non-binding, but investors don’t seem to mind either way. Elon Musk’s space-and-AI company had added roughly $1 trillion to its valuation since going public on Friday.

I managed to buy a single vanity share last week, and snagged a few more when SPCX closed down for the first time on Wednesday. Don’t know if I’ll win, lose, or draw, but it’s exciting finally owning even a minuscule piece of the world’s most exciting company.