SpaceX Surges Past $2.5 Trillion, Outpacing Bitcoin Market Value

SpaceX's market value has surged past $2.5 trillion after just eight days on the public markets, making it the world's sixth-largest company and nearly twice the size of the entire bitcoin market.

The Elon Musk-owned firm's shares have climbed more than 40% since their June 12 debut, with a limited float contributing to the rally.

SpaceX is now in direct competition with AI heavyweights Anthropic and OpenAI after acquiring xAI in February, and its valuation has left little room for error.

Analysts warn that expectations are sky high, with some warning that a stumble could hit the broader market and AI winners alike.