SpaceX surpassed Microsoft in market capitalisation on Tuesday to change into the fourth-largest firm in the USA, as shares within the Elon Musk-led rocket and know-how agency surged roughly 13% on its third day of public buying and selling. The milestone extends a outstanding post-IPO ascent that has seen SpaceX overtake each Amazon and Microsoft inside a single session, following a record-breaking inventory market debut on Friday and a 20% share worth leap on its first full buying and selling day.
The milestone arrived alongside the corporate’s announcement of a $60 billion acquisition of Cursor, a extensively used synthetic intelligence coding device, extending what has already been probably the most consequential opening weeks in current inventory market historical past.
| Firm | Market cap (Trillions) |
|---|---|
| Nvidia | $5.09 |
| Alphabet | $4.46 |
| Apple | $4.34 |
| Microsoft | $2.92 |
| SpaceX | $2.89 |
| Amazon | $2.67 |
| Broadcom | $1.85 |
| Meta | $1.52 |
| Tesla | $1.51 |
| Micron | $1.24 |
SpaceX Inventory Rises 8% on Tuesday, Pushing Market Cap to $2.74 Trillion
SpaceX shares rose roughly 8% on Tuesday, bringing the corporate’s market capitalisation to roughly $2.74 trillion in early morning buying and selling. Amazon was valued at roughly $2.65 trillion on the identical level, putting SpaceX forward of the e-commerce and cloud computing group by a margin of near $90 billion.
The Tuesday achieve follows a 20% rise in SpaceX shares on the primary full day of buying and selling after the corporate’s record-breaking preliminary public providing on Friday. The inventory has now risen greater than 19% in every of its first two full buying and selling days, making it probably the most carefully tracked post-IPO performances in current reminiscence.
The depth of retail investor curiosity has been putting. On Monday, SpaceX accounted for almost three-quarters of all single inventory purchases amongst retail traders, in accordance with information from Vanda Analysis.
SpaceX Acquires AI Coding Software Cursor for $60 Billion in All-Inventory Deal
SpaceX introduced on Tuesday that it could purchase Cursor, a man-made intelligence coding agent that may write software program autonomously and competes immediately with Anthropic’s Claude Code and OpenAI’s Codex. The all-stock deal is valued at $60 billion.
SpaceX had disclosed in April that Cursor had granted the corporate the proper to amass it. Cursor is utilized by 64% of Fortune 500 corporations, in accordance with the corporate’s personal web site, making it one of many fastest-growing instruments within the aggressive AI coding market.
The acquisition provides to SpaceX’s already substantial synthetic intelligence capital expenditure. The corporate spent $12.7 billion on AI in 2025 and an extra $7.7 billion on the know-how within the first three months of 2026 alone. The Cursor deal now provides $60 billion in inventory obligations to that determine.
SpaceX merged with chief govt Elon Musk’s AI firm xAI earlier this yr, with an ambition to finally launch information centres into area, combining the potential for reasonable cooling and free photo voltaic electrical energy with its Starlink satellite tv for pc community for communications.
The corporate mixed xAI along with his social media platform X in 2025. The mixed entity now spans aerospace, synthetic intelligence analysis, and social media.
Why SpaceX Is Betting Closely on Synthetic Intelligence
The dimensions of SpaceX’s AI spending displays aggressive stress in a market the place rivals have moved rapidly. SpaceX predicted in a regulatory submitting that enterprise AI functions will change into a $22.7 trillion market within the close to future, a projection that underpins its willingness to soak up important near-term monetary losses.
Buying Cursor is seen as a transfer that might assist SpaceX shut the hole with main AI builders. The corporate believes that catching up in AI coding functionality is central to its longer-term ambitions throughout area infrastructure, satellite tv for pc communications, and enterprise software program.
Musk Tasks $1 Trillion Income for SpaceX by 2030 Regardless of Present Losses
Elon Musk posted on X on Sunday that SpaceX “would possibly be capable of attain roughly” $1 trillion income in 2030. The projection is a major distance from the corporate’s present monetary place. SpaceX recorded $18.7 billion in income in 2025, whereas additionally posting a web lack of $4.9 billion. Within the first quarter of 2026, the corporate reported an extra lack of $4.28 billion.
These losses are largely a consequence of the corporate’s AI funding technique. The multi-billion-dollar expenditures on synthetic intelligence have weighed closely on the underside line whilst the corporate’s public valuation has surged.
SpaceX predicted in a regulatory submitting that enterprise AI functions will change into a $22.7 trillion market within the close to future, a determine it has cited to justify the size of its present outlays.
SpaceX Background: From Rocket Launches to a $2.74 Trillion Public Firm
Based in 2002, SpaceX established itself because the dominant supplier of business launch providers and satellite tv for pc web connectivity by way of its Starlink community and reusable rocket programme.
Its trajectory from a non-public aerospace firm to one of many world’s most precious publicly listed firms inside its first week of buying and selling displays each the size of investor urge for food for long-duration know-how bets and the breadth of the enterprise it has assembled throughout rockets, satellites, AI, and social media.
