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SpaceX jumped another 4.8% Tuesday, enabling Elon Musk's space launch/satellite services/AI/social media conglomerate to leapfrog Amazon.com in market value.
Key facts
SpaceX jumped another 4.8% Tuesday, enabling Elon Musk's space launch/satellite services/AI/social media conglomerate to leapfrog Amazon.com in market value
Case in point: SpaceX announced a $60 billion all-stock deal Tuesday, using its stock as currency to buy fast-growing vibe-coding startup Cursor, instantly bolstering its Grok AI division
The gain underscores the extraordinary power Musk's mastery of the stock market gives him
Summary
In its first two full days of trading, SpaceX has added roughly $537 billion to push its market value to $2.659 trillion, according to FactSet data. That puts it ahead of Amazon.com, which was valued at $2.646 trillion at Tuesday's close. The gain underscores the extraordinary power Musk's mastery of the stock market gives him. Essentially, the surge in market value provides SpaceX with hundreds of billions of dollars out of thin air, which it can then use to remarkable operational advantage.