Space Exploration Technologies Corp. (NASDAQ: SPCX), better known as SpaceX, briefly surpassed Amazon.com in market capitalization on June 16 as investors continued to pile into shares following the company's record-setting initial public offering, according to a Reuters report. Shares of Elon Musk's rocket, satellite and artificial intelligence company climbed as much as 10%, pushing its valuation above $2.7 trillion and, at one point, ahead of both Amazon and Microsoft among the world's most valuable companies.
The surge was fueled in part by the launch of options trading in SpaceX shares and growing investor enthusiasm surrounding the company's expanding presence in space technology, communications and artificial intelligence. Reuters noted that analysts expect additional buying pressure as SpaceX is positioned for inclusion in major equity indexes, including the Nasdaq-100, FTSE Russell and MSCI indexes later this month. The report was written by Echo Wang and Suzanne McGee and can be viewed in full at https://ibn.fm/zKmyi.
The stock's rapid ascent follows last week's historic IPO, which raised approximately $75 billion and valued the company at $1.77 trillion, the largest public offering on record. As of 11:30 a.m. ET on June 16, 2026, SpaceX stock was trading at approximately $211.63, up about 10%, with a market capitalization exceeding $2.7 trillion.
The milestone underscores the market's confidence in SpaceX's diversified business model, which spans aerospace, satellite internet via Starlink, and artificial intelligence initiatives. With the company now among the largest publicly traded entities, its performance is likely to influence broader market trends in the technology and space sectors.
