SpaceX is already worth more than Amazon. So why are analysts sounding the alarm? (opens in new tab)

Two days after , SpaceX is already bigger than both Amazon and Microsoft. With Tuesday’s early market gains adding to Monday’s advance, Elon Musk’s rocket-and-AI company boasted a market cap of $2.95 trillion as of 10:05 a.m. ET. That put it ahead of Amazon’s $2.66 trillion and briefly above Microsoft’s $2.93 trillion. It has since fallen below Microsoft’s market cap again. It’s a remarkable feat, one that defies rational explanation but underscores investors’ intense appetite for AI—and the ...