SpaceX, newly listed on the public markets, has swiftly outpaced Amazon’s market capitalization and is closing in on Microsoft. The company’s stock gains and a major acquisition are rapidly shifting its position among the world’s largest public firms.
Three days after its initial public offering, SpaceX has achieved a market capitalization of $2.658 trillion, now ranking as the world’s fifth most valuable public company, data from companiesmarketcap.com indicated. This milestone follows a 4.83% rise in the share price during Tuesday’s trading session, propelling SpaceX past Amazon.
SpaceX’s after-hours stock price spike to $229.85 briefly lifted its valuation above $3 trillion, at one point overtaking Microsoft’s market cap of $2.925 trillion. While Nvidia remains the market leader at $5.023 trillion, SpaceX is now positioned just behind Microsoft in the global rankings.
SpaceX also disclosed on Tuesday an agreement to acquire Cursor, an artificial intelligence startup, in a transaction valued at $60 billion in equity. Cursor, established in 2022, offers an AI-powered coding assistant widely adopted by software developers. The company has seen notable expansion in recent years.
