SpaceX stock soars, surpasses Amazon to become fifth most valuable company

SpaceX has experienced a dramatic market debut, with its stock price soaring nearly 25% since its initial public offering. This surge has propelled the company's valuation to an astonishing $2.97 trillion, positioning it as the fifth most valuable company globally, surpassing Amazon in just three days of trading.

The recent rally was significantly fueled by SpaceX's announcement that it will acquire Anysphere, the owner of AI startup Cursor, for $60 billion in stock. This strategic move aims to integrate Anysphere's capabilities into SpaceX's xAI division, enhancing its Grok AI model and competing in the autonomous coding market against rivals like OpenAI and Anthropic.

However, the rapid ascent of SpaceX's valuation has raised concerns among market analysts. They point to a significant disconnect between the company's market capitalization and its actual financial fundamentals. While Amazon reported substantial profits last year, SpaceX recorded revenues of $18.67 billion and a net loss of $4.94 billion in the same period, largely due to heavy development costs associated with xAI. Currently, only the Starlink division provides positive operating cash flow for the company.

SpaceX's stock has also generated considerable interest among Argentine investors. The company's American Depositary Receipts (ADRs) have become one of the most traded international securities on the BYMA exchange, outperforming even established tech giants. This "trillion-dollar fever" reflects a strong investor appetite for high-growth, albeit high-risk, ventures.