SpaceX Valuation Soars Past $2.94 Trillion

SpaceX, the rocket manufacturer founded by Elon Musk, has reached an astonishing valuation of nearly $2.94 trillion after its third trading day on the market.

The company's stock price skyrocketed about 12% on Tuesday, briefly overtaking Amazon and Microsoft in terms of market value.

SpaceX raised a record-breaking $85.7 billion through its initial public offering (IPO), making Musk the world's first trillionaire after the stock surged by over 20% on Monday.

However, some analysts have expressed skepticism about the company's valuation, citing a projected 2025 revenue of only $18.67 billion and a net loss of $4.94 billion.