SpaceX Valuation Surges to $2.94 Trillion Amid Fading Momentum

SpaceX's valuation soared to $2.94 trillion after it briefly surpassed Amazon and Microsoft in market value on Tuesday.

The rocket maker jumped about 12% on its third trading day, lifting its shares near a $2.8 trillion valuation before overtaking Amazon.

However, the advance then faded, and shares slipped back below those highs as traders took profits.

Ipek Ozkardeskaya, senior market analyst at Swissquote Bank, questioned the rally, stating that 'the valuation makes absolutely no sense today' due to SpaceX's 2025 revenue of $18.67 billion and a $4.94 billion net loss after merging with xAI.