SpaceX is rapidly approaching Amazon’s market value less than two weeks after its historic initial public offering.
Priced at $135 per share on June 11, the company raised $75 billion, the largest IPO in US history. Shares, trading on Nasdaq under the ticker SPCX, closed the first day at $160.95, a 19% gain that valued the company at $2.1 trillion. The stock has since climbed into the $192 to $210 range, pushing the market capitalization above $2.5 trillion.
Amazon’s market cap sits at approximately $2.6 trillion. The gap is narrowing fast.
SpaceX reported revenue of roughly $18.7 billion for 2025 against an operating loss of about $4.2 billion. The company is valued at roughly 134 times its annual revenue, a premium reflecting investor confidence in Starlink’s growth trajectory, commercial space travel, and government contracts.
Amazon is developing Project Kuiper, its own satellite internet constellation, setting up a direct rivalry that will likely define both companies' future in the space economy.