SpaceX Valuation Touches $2.94 Trillion, Briefly Overtakes Amazon

SpaceX's valuation has skyrocketed to nearly $2.94 trillion after the company briefly surpassed Amazon and Microsoft in market value.

The rocket maker's stock surged around 12% on Tuesday, pushing its valuation higher as it climbed into the ranks of the world's most valuable companies.

This marks a significant milestone for Elon Musk, who has become the world's first trillionaire following SpaceX's record-breaking IPO.

However, skeptics have questioned the company's valuation, citing concerns that it may be overstretched given its 2025 revenue projections of $18.67 billion and a net loss of $4.94 billion after a merger with xAI.