Elon Musk's SpaceX surpasses Amazon to become world's 5th largest company by market value: Here are the top 4
Elon Musk-led SpaceX has become the 5th largest company, overtaking Amazon , after the shares of aerospace and AI giant skyrocketed more than 14% on Tuesday (June 16). The surge even allowed SpaceX to briefly overtake Microsoft but is now settled at the bottom spot in the top 5 companies in the world. At the time of writing, SpaceX stock was trading at $220, which is huge 62% increase from its initial public offering (IPO) price of $135.
SpaceX joins the ‘Elite Club’
At this price point, SpaceX has a market capitalisation of roughly $2.85 trillion. Amazon currently sits at a valuation of $2.64 trillion. SpaceX also briefly leaped over Microsoft's $2.92 trillion valuation before settling just behind it.
While SpaceX has risen to the number five spot, it still trails the absolute heaviest hitters on Wall Street. Nvidia , Google-parent Alphabet , Apple and Microsoft are ahead of the space company.
Source: CNBC (as of 8:45 pm IST on June 16)
The rally coincided with the launch of SpaceX stock options, giving investors new ways to trade the newly listed shares. According to news agency Reuters, by 10:07 a.m. ET on Tuesday, over $23.1 billion worth of SpaceX shares had already changed hands – a trading volume that was several times higher than Nvidia, Microsoft, Tesla and Apple combined.
SpaceX-Cursor deal
Earlier tin the day, SpaceX announced that it is expanding the footprint in the enterprise artificial intelligence (AI) market. The company said it will acquire Anysphere, the software company behind the highly popular AI coding agent Cursor, for $60 billion. According to a report by news agency Reuters, SpaceX officials confirmed that they expect the multi-billion-dollar merger to officially close during the third quarter of 2026.
Since its founding in 2022, Cursor has experienced growth by developing AI agents for coding. The acquisition is expected to provide a major boost to xAI that has lagged behind primary rivals like OpenAI and Anthropic in the specialised AI coding market.
SpaceX joins the ‘Elite Club’
At this price point, SpaceX has a market capitalisation of roughly $2.85 trillion. Amazon currently sits at a valuation of $2.64 trillion. SpaceX also briefly leaped over Microsoft's $2.92 trillion valuation before settling just behind it.
While SpaceX has risen to the number five spot, it still trails the absolute heaviest hitters on Wall Street. Nvidia , Google-parent Alphabet , Apple and Microsoft are ahead of the space company.
Source: CNBC (as of 8:45 pm IST on June 16)
The rally coincided with the launch of SpaceX stock options, giving investors new ways to trade the newly listed shares. According to news agency Reuters, by 10:07 a.m. ET on Tuesday, over $23.1 billion worth of SpaceX shares had already changed hands – a trading volume that was several times higher than Nvidia, Microsoft, Tesla and Apple combined.
SpaceX-Cursor deal
Earlier tin the day, SpaceX announced that it is expanding the footprint in the enterprise artificial intelligence (AI) market. The company said it will acquire Anysphere, the software company behind the highly popular AI coding agent Cursor, for $60 billion. According to a report by news agency Reuters, SpaceX officials confirmed that they expect the multi-billion-dollar merger to officially close during the third quarter of 2026.
Since its founding in 2022, Cursor has experienced growth by developing AI agents for coding. The acquisition is expected to provide a major boost to xAI that has lagged behind primary rivals like OpenAI and Anthropic in the specialised AI coding market.
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