Key facts
- SpaceX's stock surged over 17% on Tuesday, reaching a market capitalization of $2.93 trillion.
- SpaceX briefly surpassed Microsoft and Amazon in market value.
- The stock surge followed an overnight rally and a merger announcement with Anysphere Inc.
- The merger involves SpaceX's subsidiary X67 Inc. and is valued at approximately $60 billion.
- The transaction is anticipated to close in the third quarter of 2026.
Space Exploration Technologies Corp. (SPCX) shares experienced a significant surge on Tuesday, climbing as much as 17.21% to a high of $225.64, which propelled its market capitalization to $2.93 trillion. This valuation briefly placed SpaceX above Microsoft, valued at nearly $2.92 trillion, and Amazon, valued at approximately $2.63 trillion, making it the fourth-largest company globally by market value at its peak. The stock's upward momentum followed a substantial rally on Monday, attributed to news of a US-Iran peace agreement, and continued through premarket trading. The primary catalyst for the recent surge appears to be the announcement of a merger agreement between SpaceX's subsidiary X67 Inc. and Anysphere Inc., a deal valued at about $60 billion on an all-stock basis. This transaction, which is subject to regulatory approvals and expected to close in the third quarter of 2026, could significantly boost SpaceX's market share.