SpaceX didn’t just go public. It went supernova.

After listing on June 12, 2026, at $135 per share in what became a $75 billion IPO, the largest in American history, SpaceX’s stock has ripped higher so aggressively that the company is now closing in on Amazon’s roughly $2.6 to $2.7 trillion market cap. That puts Elon Musk’s rocket and satellite empire on the doorstep of becoming the fifth-largest public company in the United States, leapfrogging a retail and cloud computing giant that took nearly three decades to reach that perch.

Two days, two trillion reasons to pay attention

On day one, shares closed at $160.95, a 19% jump from the $135 IPO price. That gave the company a market capitalization of roughly $2.1 trillion, immediately making it larger than Broadcom and several other established tech heavyweights.

Then came day two. The stock surged another 20%, pushing SpaceX’s valuation past $2.5 trillion.

The IPO itself was a blockbuster by any measure. SpaceX sold 555.6 million shares, raising $75 billion in a single offering.

As of June 16, analysts are watching closely as SpaceX’s market cap inches toward Amazon’s territory in the $2.6 to $2.7 trillion range.

Musk becomes the world’s first trillionaire

The surge in share price has pushed Elon Musk’s personal net worth past the $1 trillion mark, making him the first person in history to reach that milestone.

SpaceX reportedly generated around $18.7 billion in revenue during 2025. At its current valuation north of $2.5 trillion, the company is trading at roughly 94 times revenue. For comparison, Amazon trades at a fraction of that multiple. Even the most generously valued software companies rarely sustain price-to-revenue ratios above 30 or 40 for extended periods.

Traders should also consider the competitive landscape. Amazon, the company SpaceX is now challenging for fifth place, has its own satellite internet venture in Project Kuiper. Blue Origin, founded by Amazon’s Jeff Bezos, is ramping up its own launch capabilities.