SpaceX valuation rises to $2.5 trillion, nearly twice that of Bitcoin

Elon Musk's SpaceX continues to see its valuation increase. Reports state that after the stock price surged nearly 20% following its IPO, it further climbed in pre-market trading, with the company's total valuation exceeding $2.5 trillion, approaching nearly twice the current market capitalization of Bitcoin.

Currently, Bitcoin's total network market cap is approximately $1.33 trillion. Based on this figure, SpaceX's valuation has clearly surpassed that of a single cryptocurrency network and is approaching the scale of "two Bitcoins."

xAI acquisition news drives gains

The report mentions that one of the main catalysts for the pre-market rise is xAI announcing the acquisition of the startup behind AI coding assistant Cursor, valued at $60 billion. Market analysts believe this deal will enhance xAI's competitiveness in AI application fields.

Cursor is one of the AI coding products that has grown rapidly over the past year. The report cites data indicating its annual revenue increased from $25k to $2 billion within 13 months, which is also a key reason for the deal's attention.

High valuation accompanied by profit pressure

However, the report also notes that some analysts remain cautious about the current valuation. The reason is that SpaceX has not yet achieved profitability; in the first quarter of this year, it reported a loss of about $4.3 billion, and its price-to-sales ratio remains high.

In this context of high valuation, the market is also beginning to discuss the risks of subsequent stock price volatility. The article states that, based on the historical performance of some large IPO stocks, a rapid short-term surge followed by a correction is not uncommon.

Bitcoin valuation is once again used for comparison

As SpaceX's valuation rapidly rises, Bitcoin's pricing has once again become a focus of discussion. The article mentions that some crypto market supporters believe that, as a scarce asset, Bitcoin's valuation still has room for underestimation.

However, from the content of the report, this part more reflects market opinions rather than new on-chain or capital flow data. The more immediate changes are still driven by cross-market attention sparked by SpaceX, xAI, and AI trading news.