--- title: "SpaceX's market value is poised to surpass Amazon! Musk's \"Space AI Empire\" has completely ignited the \"MANGOS\" trade" type: "News" locale: "en" url: "https://longbridge.com/en/news/289911470.md" description: "After a record IPO, SpaceX's stock price surged over 10%, with its market value expected to surpass Amazon, becoming the fifth largest publicly traded company in the world. This marks a shift in the narrative of U.S. stock investments from the \"MAG 7\" to the \"MANGOS\" combination, which emphasizes AI computing power, models, and space infrastructure, reflecting a reallocation of funds from mature tech cash flows to AI and space scarcity assets" datetime: "2026-06-16T11:34:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289911470.md) - [en](https://longbridge.com/en/news/289911470.md) - [zh-HK](https://longbridge.com/zh-HK/news/289911470.md) --- # SpaceX's market value is poised to surpass Amazon! Musk's "Space AI Empire" has completely ignited the "MANGOS" trade According to the Zhitong Finance APP, following the record-breaking IPO scale of SpaceX (SPCX.US), the American super technology giant founded by Elon Musk, which focuses on "AI + space exploration," last Friday, the global stock market's investment frenzy surrounding commercial space travel and AI computing infrastructure has become increasingly heated. As of the time of writing, SpaceX's stock price rose over 10% in pre-market trading on Tuesday, and with the momentum continuing after the epic IPO, the company is expected to surpass Amazon (Amazon.com) in market value, becoming the fifth-largest publicly listed company in the world—only behind Nvidia, Alphabet, Apple, and Microsoft. The stock recently increased by 10.4%, trading at $212.50, which is a significant rise of over 57% from its IPO issuance price of $135; if this increase is maintained, the company's market value will approach $2.8 trillion. Meanwhile, Amazon's (AMZN.US) latest market value is approximately $2.66 trillion. As SpaceX's total market value is poised to exceed that of Amazon, the investment narrative surrounding super giants in the U.S. stock market is accelerating a significant iteration: shifting from the previous FAANG and MAG 7 to a new combination that emphasizes "AI foundational models + AI computing infrastructure + space communication/data networks," referred to as "MANGOS." The reason "MANGOS" can replace or challenge the "MAG 7" narrative lies in its shift of market focus from mature internet platforms and consumer tech leaders to AI-native application assets and AI computing infrastructure assets. The "MANGOS" frequently referenced by Wall Street analysts is typically interpreted to include Meta (Facebook's parent company), Anthropic, Nvidia, Alphabet (Google's parent company), OpenAI, and SpaceX, although this combination has not yet been fully standardized, with some versions also interpreting "A" as Apple. This redefinition of the investment acronym essentially indicates that investors are using a new abbreviation to express a new global core technology asset pricing framework. ![image.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260616/1781609087776628.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) With index-tracking funds (i.e., index ETFs) set to create billions of dollars in new demand for SpaceX stock, coupled with the anticipated $3 trillion investment and construction process related to AI computing infrastructure, some Wall Street analysts believe that SpaceX may become a strong amplifier of the AI super bull market rather than a bubble terminator. This also means that SpaceX's record IPO may indicate that the global bull market surrounding the AI computing industry chain is far from over. As the richest person in the world to date, Musk has previously accomplished what others deemed impossible—creating a commercially viable high-frequency rocket launch business through SpaceX, bringing electric vehicles into the mainstream market through Tesla, the global leader in electric vehicles, and providing internet connectivity infrastructure services from space through Starlink However, some investors are skeptical about whether Musk can truly achieve his "most epic" chip-making initiative outlined in Austin and whether he can realize his envisioned "super blueprint" for artificial intelligence, autonomous driving, humanoid robots, and space AI data centers. ## SpaceX's stock surged 57% after IPO! The green shoe expansion, options opening, and expectations of inclusion in the Nasdaq 100 collectively drive funds to chase SpaceX. "We can say with certainty that this valuation makes no sense today. People are buying into SpaceX because they expect others to buy in as well, driving the price up collectively—this is the best interpretation of speculation," said Ipek Ozkardeskaya, a senior market analyst at Swissquote Bank. The company (SpaceX) reported sales of $18.67 billion last year and recorded a net loss of $4.94 billion after merging with the loss-making AI application leader xAI—this contrasts sharply with the strong performances consistently reported by many large tech companies that Wall Street analysts have long been bullish on. Additionally, SpaceX options trading is expected to begin as early as Tuesday, with early trading anticipated to be very active and volatile, potentially at a high cost. Speculative forces surrounding options derivatives may accelerate SpaceX's stock price upward, but the pullback after reaching a peak in the upward trajectory could be quite severe. Analysts and portfolio managers generally indicate that ordinary retail investors should prepare for volatility, especially in the early stages of SpaceX as a public company, due to its relatively small float and high valuation. As SpaceX is about to be rapidly included in the Nasdaq 100 index, the upward momentum may continue in the short term; this means that Nasdaq will soon push SpaceX to become a significant holding for passive funds and ETFs tracking the Nasdaq 100 index, thereby creating a new source of demand for its stock. FTSE Russell and MSCI will also include the stock in their numerous benchmark market indices starting from June 26 and June 29, respectively. Nasdaq Inc., FTSE Russell, and MSCI Inc. are now preparing to quickly incorporate the company into their respective benchmark index compilation systems. According to statistics from index rebalancing forecasting service Intropic, approximately 30% of SpaceX's freely traded shares will be held by passive investors just 15 days after its listing. In comparison, under the previously slower index inclusion rules of these index providers, this proportion was only about 4%. On Monday, SpaceX also announced that its underwriters had exercised the "green shoe" option to purchase additional shares, significantly increasing its total fundraising amount from the initially planned $75 billion to $85.7 billion. On the eve of SpaceX's monumental listing, Wall Street's well-known investment bank Oppenheimer gave the stock an "outperform" bullish rating, with a target price of $190. Based on the initial IPO issuance price of $135, the $190 target price implies about a 41% potential upside, corresponding to a market value of approximately $2.5 trillion Oppenheimer's bullish report centers on redefining SpaceX from a traditional commercial aerospace company to a "vertically integrated AI infrastructure comprehensive platform": it not only possesses rocket launch capabilities, Starlink satellite networks, and manufacturing engineering capabilities, but is also endowed with large language models, AI agents, large ground AI data centers, large cloud inference computing resource platforms, and future space orbital AI data centers in a composite narrative. As of 5:02 AM Eastern Time, the pre-market trading volume of SpaceX stocks has exceeded $1.76 billion, several times the combined trading volume of Nvidia, Microsoft, Tesla, and Apple. Other heavyweight tech stocks, including Nvidia and Alphabet, have slightly declined. Tesla fell by 1.5%. ## Musk's "Space AI Empire" Reshapes Investment Labels for US Super Giants The highly anticipated IPO prospectus released by SpaceX last month shows that its self-assessed total addressable market (TAM) could reach an astonishing $28.5 trillion; if this so-called "Space AI Empire" super blueprint is ever realized, it would approach the total output of the US economy. The company stated in its IPO prospectus that it has "identified the largest executable total potential market opportunity in human history," primarily driven by AI super software, with significant contributions from the space sector as well. SpaceX is accelerating its transformation from a "commercial aerospace and space exploration company" to a "global AI computing infrastructure operator + AI application giant," with a subscription scale exceeding $300 billion far exceeding expectations, and retail investors' $100 billion subscription sufficiently illustrating the market's acceptance of this growth narrative. This will further reinforce the trend and trajectory that "SpaceX's record IPO is actually expanding the boundaries of the AI super bull market, rather than consuming the liquidity of the AI bull market." From the perspective of global capital flows, it currently appears that the AI super bull market is entering its second phase. The first phase was driven by AI GPUs and ASIC-dominated ultra-large-scale training clusters; the second phase is beginning to spread comprehensively to data center power chains, HBM/DRAM/NAND, advanced packaging, liquid cooling, data center CPUs, optical communication/optical interconnect, high-performance Ethernet network infrastructure/data center DCI high-speed interconnection, as well as AI application terminals such as PCs, wearable consumer electronics, humanoid robots, and autonomous driving, including the "new AI centers" represented by SpaceX's space AI computing infrastructure. After its IPO, SpaceX's market value quickly approached or even surpassed Amazon, coupled with the market's heated discussion of "MANGOS," the investment labels for US super giants are accelerating a significant iteration of investment narratives: shifting from the past FAANG, MAG 7, to a new combination that emphasizes "AI foundational models + AI computing infrastructure + space communication/data networks" known as "MANGOS." "MANGOS" is typically interpreted as Facebook's parent company Meta, Anthropic, Nvidia, Google's parent company Alphabet, OpenAI, and SpaceX, but this combination has not yet been fully standardized, with some versions also interpreting "A" as Apple The restructuring of this investment abbreviation essentially indicates that investors are using new abbreviations to express a new global core technology asset pricing framework, highlighting that the benchmark index weights in the U.S. stock market are being redistributed from mature technology cash flows to monopolistic rights of AI computing infrastructure, pricing power of AI applications and model platforms, and the scarcity of space infrastructure. Nvidia represents the AI computing infrastructure ecosystem dominated by data center CPUs and AI GPUs, Infiniband network infrastructure, and CUDA systems; Alphabet/Meta represents large-scale cloud and AI application distribution; OpenAI/Anthropic represents foundational AI large model platforms; and SpaceX represents satellite internet communication, AI agent application ecosystems, defense and aerospace, as well as space AI data center infrastructure. In other words, MANGOS is not just a simple renaming, but a transition of the main line of U.S. technology from the era of "mobile internet/cloud computing/digital advertising platforms" to the industrial chain reconstruction of "AI large models—AI computing infrastructure—satellite network architecture—AI agent application entry." ### Related Stocks - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [AMZD.US](https://longbridge.com/en/quote/AMZD.US.md) - [AMZU.US](https://longbridge.com/en/quote/AMZU.US.md) - [AMZW.US](https://longbridge.com/en/quote/AMZW.US.md) - [AMZZ.US](https://longbridge.com/en/quote/AMZZ.US.md) - [AMZO.US](https://longbridge.com/en/quote/AMZO.US.md) - [AMZY.US](https://longbridge.com/en/quote/AMZY.US.md) - [AZYY.US](https://longbridge.com/en/quote/AZYY.US.md) - [AMZP.US](https://longbridge.com/en/quote/AMZP.US.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [OpenAI.NA](https://longbridge.com/en/quote/OpenAI.NA.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [.NDX.US](https://longbridge.com/en/quote/.NDX.US.md) - [MSCI.US](https://longbridge.com/en/quote/MSCI.US.md) - [OPY.US](https://longbridge.com/en/quote/OPY.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) ## Related News & Research - [SpaceX overtakes Amazon to become the fifth-largest company in the world. Now it's closing in on Microsoft.](https://longbridge.com/en/news/289962970.md) - [Pinterest bets on creators with Amazon Storefront integration](https://longbridge.com/en/news/289344719.md) - [Meta’s new ‘AI Mode’ on Facebook pulls from public info across its platforms](https://longbridge.com/en/news/289818430.md) - [09:03 ETEDGE AI FOUNDATION WELCOMES AMAZON WEB SERVICES (AWS) AS A LEADERSHIP PARTNER TO ACCELERATE CLOUD-TO-EDGE AND PHYSICAL AI INNOVATION](https://longbridge.com/en/news/289060279.md) - [LM Advisors LLC Cuts Stake in Amazon.com, Inc. $AMZN](https://longbridge.com/en/news/289748652.md)