SpaceX Surpasses Amazon in Market Value to Become Fifth Largest Globally

SpaceX, led by Elon Musk, is recording unexpected results after entering the open public market. During Tuesday's trading, the company's share price surged, briefly pushing its total market value past the Amazon giant. This milestone placed SpaceX among the top five most valuable companies in the world, according to Techcrunch.com reports .

According to Nasdaq exchange data, SpaceX's capitalization reached up to $2.9 trillion at the peak of trading. Although the share price dipped slightly by the end of the trading day, the company demonstrated its ability to pose serious competition to tech giants like Microsoft. Notably, this growth occurs while the company is restructuring its AI division and reporting financial losses.

Artificial Intelligence and New Acquisitions

Several factors contributed to this rapid growth in SpaceX's value. First, the company announced the acquisition of Cursor, an AI-based coding startup. This deal includes a $60 billion equity package. Additionally, agreements with Anthropic and Google to lease computing power have sparked significant investor interest.

Elon Musk previously integrated the xAI project into SpaceX. Although he admitted that the AI division was initially poorly structured, he emphasizes that all processes are now being rebuilt from scratch on a solid foundation. Investors believe SpaceX will evolve not only into a spaceflight company but into a trillion-dollar AI business.

Financial Indicators and Market Volatility

Interestingly, while SpaceX generated $18.7 billion in revenue last year, it reported a final loss of $4.9 billion. For comparison, Amazon earned a net profit of $78 billion from $717 billion in sales last year. Nevertheless, market participants are prioritizing the future potential of Musk's company over its current financial state.

Experts believe the extreme volatility of SpaceX shares is due to only 4% of shares being available for trade. The scarcity of shares causes any large purchase or sale to have a sharp impact on the price. In a single day, investors traded over 300 million shares, representing more than half of the total free-float shares.

To date, SpaceX has raised nearly $86 billion in new capital through open trading. These funds are expected to be directed toward the company's ambitious plans for Mars flights and the AI sector. These changes are also interesting for technology enthusiasts in Uzbekistan, as SpaceX and its Starlink project could be crucial in expanding internet coverage in the region.