SpaceX tops Amazon and Microsoft in market cap, becomes fourth-largest US company
SpaceX surpassed Microsoft in market capitalisation on Tuesday to become the fourth-largest company in the United States, as shares in the Elon Musk-led rocket and technology firm surged approximately 13% on its third day of public trading. The milestone extends a remarkable post-IPO ascent that has seen SpaceX overtake both Amazon and Microsoft within a single session, following a record-breaking stock market debut on Friday and a 20% share price jump on its first full trading day.
The milestone arrived alongside the company’s announcement of a $60 billion acquisition of Cursor, a widely used artificial intelligence coding tool, extending what has already been one of the most consequential opening weeks in recent stock market history.
