SpaceX surged after its public offering, pushing the market value past the $200 billion threshold and nudging the firm ahead of Amazon in the global ranking. The rally, driven by strong launch bookings and optimism around Starlink growth, lifted the company into the elite club of the world’s largest corporations and drew fresh capital.

The deal that cemented the leap was a $60 bn acquisition of a satellite‑imaging firm, expanding SpaceX’s data‑services portfolio. Analysts say the purchase could boost annual revenue by billions, intensifying competition with Amazon’s cloud and Earth‑observation arms. The move also improves the firm’s cash flow, supporting its ambitious Mars‑colonisation timetable. The target, a leader in high‑resolution imaging, brings a fleet of 120 satellites already in orbit.

By overtaking Amazon, SpaceX becomes the fifth‑largest company by market cap, joining Apple, Microsoft, Alphabet and Saudi Aramco. The ranking shift underscores how commercial space assets are reshaping the valuation hierarchy, prompting traditional tech giants to reassess their satellite strategies. Investors now view SpaceX as a core component of the broader digital infrastructure ecosystem. Its stock now trades alongside telecoms, signaling a new space‑driven valuation.