SpaceX Valuation Dips to $2.52T; Lacks Profitability Despite Investor Bets

SpaceX's private market valuation fell 4.95% to $191.82 per share on Wednesday, June 18, 2026, bringing its estimated market capitalization to $2.52 trillion. This marks the first decline since its valuation surged last Friday, prompting scrutiny over the multi-trillion-dollar figure despite the firm's unprofitability. AlphaSpace data indicates SpaceX generated approximately $19 billion in revenue over the past 12 months but incurred a net loss of $8.7 billion during the same period. This contrasts sharply with other trillion-dollar tech companies like Microsoft and Amazon, which boast revenues exceeding $300 billion and $700 billion, respectively, alongside substantial profits. Analysts suggest investors value SpaceX as a future global infrastructure platform (Starlink, space launch, defense, AI infrastructure), betting on massive future cash flows over current earnings. While Tesla (TSLA) took 21 months to reach a $1 trillion valuation with emerging profits, SpaceX's valuation surged to multi-trillion levels in days, highlighting high expectations for its unproven model.