In just three trading days, SpaceX has reached a milestone that usually takes companies decades. Its shares rose 10% to $211.82 in premarket trading on Tuesday, raising the company’s market value to about $2.8 trillion. This puts SpaceX ahead of Amazon, which is valued at nearly $2.7 trillion. Microsoft, with a market cap of around $2.97 trillion, is now the next company in SpaceX’s sights. Here’s a look at how SpaceX achieved this rapid growth and what its financials reveal.
The pace of SpaceX’s rise is unprecedented. On its first day of trading, shares climbed 19%, adding about $340 billion in value. The next day, shares jumped another 20%, bringing in roughly $420 billion more. According to Dow Jones Market Data, this was the second-largest single-day market gain ever for a U.S. company. Over two days, SpaceX’s value grew by about $760 billion, which is more than Intel’s entire market value. By Monday’s close, SpaceX ranked as the world’s sixth-largest company by market cap, just behind Nvidia, Alphabet, Apple, Microsoft, and Amazon.
There is a big difference in financials between SpaceX and Microsoft. By 2027, Microsoft is expected to make about $420 billion in sales and $194 billion in operating profit. In comparison, SpaceX is projected to have $65 billion in sales and $3 billion in operating profit. Investors are betting on SpaceX’s future growth rather than its current earnings.
SpaceX’s growth story is built on two main areas. First, Starlink, its satellite broadband service, has over 10 million subscribers and brought in $11.4 billion in sales in 2025. Second, its AI business made $3.2 billion in revenue in 2025, and that number is rising quickly. About $26 billion in annualized revenue now comes from cloud computing deals with Anthropic and Google. SpaceX plans to launch orbital AI data centers starting in 2028, using its Starship rocket to lower the cost of reaching orbit. This ambitious plan is the basis for Elon Musk’s projection of $1 trillion in sales by 2030, which is about three times higher than Wall Street’s current estimate for that year.
It is still unclear if orbital data centers will be able to generate $500 billion to $600 billion in AI revenue in the next few years. For now, the market is betting that it could happen.
