SpaceX Valuation Soars Past $2 Trillion Mark

SpaceX's market value surged to $2.94 trillion on Tuesday, briefly surpassing Amazon and Microsoft's valuations in the process.

The rocket maker's stock climbed about 12% on its third trading day, adding nearly $1.16 billion in trades before 5 a.m. New York time.

Elon Musk's company raised around $85.7 billion in the largest IPO ever recorded, making him the world's first trillionaire after the debut.

Skeptics have questioned the valuation, citing the company's projected 2025 revenue of $18.67 billion and a net loss of $4.94 billion following its merger with xAI.