SpaceX shares rose 14% on Tuesday, as Elon Musk's rocket-builder continued its meteoric rise following a record-breaking IPO on Friday.
With the skyrocketing share price, SpaceX overtook Amazon in market cap. SpaceX's market cap stood at roughly $2.86 trillion as of early morning trading, while Amazon is valued at about $2.66 trillion. Microsoft's market valuation is roughly $2.91 trillion.
2x leveraged SpaceX ETFs surged across the board, with SPCU, LOFF, SPAX, and SPAL all rising by 28%.
The move comes after SpaceX shares jumped 20% in its first full day of trading after a blockbuster debut.
Earlier on Tuesday, SpaceX announced it would acquire popular artificial intelligence coding agent Cursor for $60 billion.
Musk, who serves as CEO of SpaceX, posted on X on Sunday that the company "might be able to reach approximately" $1 trillion revenue in 2030.
That would be a huge jump from the $18.7 billion in revenue it made in 2025. The company posted a $4.9 billion net loss in 2025, and it lost $4.28 billion in the first quarter of this year.
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