SpaceX Market Value Surpasses Amazon, Announces AI Acquisition
SpaceX has reportedly surpassed Amazon.com in market value, reaching $2.659 trillion after its first two full days of trading. The company's valuation increased by approximately $537 billion, following a 4.8% jump on Tuesday. This surge coincided with SpaceX's announcement of a $60 billion all-stock acquisition of Cursor, a vibe-coding startup, intended to enhance its Grok AI division.
SpaceX, led by Elon Musk, has reportedly exceeded Amazon.com in market value, reaching $2.659 trillion. This valuation follows its first two full days of trading, during which the company's market value increased by approximately $537 billion.
The aerospace and technology conglomerate saw its market value jump by 4.8% on Tuesday alone. At the close of trading on the same day, Amazon.com was valued at $2.646 trillion, placing SpaceX ahead in market capitalization.
Coinciding with this market surge, SpaceX announced an all-stock deal valued at $60 billion on Tuesday. This acquisition is for Cursor, described as a fast-growing vibe-coding startup. The strategic move aims to bolster SpaceX's Grok AI division, positioning it to compete with companies like Anthropic and OpenAI.
According to FactSet data, these figures highlight the significant increase in SpaceX's market valuation. (Source: Axios)
