By Leo Sun
Publication Date: 2026-06-15 20:31:00
SpaceX (SPCX +19.79%), the aerospace and AI company founded by Elon Musk, went public on June 12 at a valuation of $1.77 trillion, making it the largest IPO in history. Today, its market cap reached $2.40 trillion, making it the sixth-most-valuable company in the world.
That puts it ahead of tech giants like Broadcom, Meta, and Tesla, but could it overtake Amazon (AMZN +3.13%) — which is worth $2.65 trillion — within the next few days?
Image source: Getty Images.
Can SpaceX maintain its sky-high valuation?
SpaceX’s revenue rose 33% to $18.67 billion in 2025. That growth rate is impressive, but the company’s market cap of $2.40 trillion values it at 128 times that figure. That sky-high price-to-sales ratio makes SpaceX seem more like a meme stock than a growth stock.
SpaceX is also unprofitable. After recasting its results to include its integration of xAI (which owns X and Grok) this year, it posted a net loss of $4.94 billion in 2025. The losses from that new AI division and…