New Delhi, June 16 -- SpaceX's much-anticipated start to life as a public company has been both meteoric and historic.

The company was set to surpass Amazon's $2.65 trillion valuation Tuesday, having reached $2.54 trillion at Monday's close. It was on track to become the fifth biggest U.S. company by market capitalization as the stock surged again ahead of the open. Suddenly Microsoft, at $2.97 trillion, doesn't seem that far off.

But let's boldly go where no SpaceX investor has gone before-the fundamentals. Amazon posted revenue of $717 billion in 2025 to SpaceX's $18.7 billion.

Those numbers don't account for the Elon Musk effect, though, which was in full force on SpaceX's second trading day. The stock surged 20% Monday after Musk s...