SpaceX has surpassed Amazon to become the world's fifth most valuable company after Elon Musk took the company public in the United States just a few days ago.
Foreign news agencies reported on 16 Jun 2026 that Elon Musk's company, SpaceX, has become the world's fifth most valuable company, overtaking Amazon after SpaceX entered the stock market and its shares rapidly surged.
Just days after listing on the Nasdaq stock exchange, which focuses on technology companies in New York, SpaceX's share price soared over 50%.
This pushed the valuation of Musk’s rocket manufacturing company to approximately $2.78 trillion, while Jeff Bezos’s vast online retail and media empire, Amazon, currently stands at about $2.66 trillion.
SpaceX’s dramatic valuation jump followed the announcement of its acquisition of Cursor, an AI coding startup, for a staggering $60 billion.
SpaceX stated it will take over Anysphere, the parent company of Cursor, which develops AI software to assist with coding.
Although SpaceX’s market value has surpassed Amazon’s, the two companies differ significantly in revenue and profits.
Amazon reported a profit of $30.3 billion in the first quarter of 2026, while Musk’s SpaceX, focused on future technologies, posted a loss of $4.3 billion.
Moreover, in 2025, Jeff Bezos’s company recorded cumulative sales of about $716.9 billion, compared to SpaceX’s revenue of only $18.67 billion.
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Source:bbc