SpaceX IPO Surge Lifts Company Past Amazon and Microsoft in Market Cap

SpaceX shares opened 12 June on Nasdaq under ticker SPCX at $135 and closed at $161, a 19% first-day gain. The $75 billion offering — the largest IPO ever — valued the company at $2.1 trillion by day's end, briefly exceeding both Amazon and Microsoft. The valuation multiple stands at roughly 112x trailing revenue, well above Nvidia's peak 25–30x, pricing in Starlink broadband potential and Starship commercialization across a thin 4.2% public float.