SpaceX overtakes Amazon to become world’s fifth most valuable company
Elon Musk’s SpaceX has overtaken Amazon to become the world’s fifth most valuable company after a sharp rise in its share price following its historic stock market debut.
The space exploration company’s valuation surged to about $2.78 trillion, surpassing Amazon’s estimated $2.66 trillion, just days after its record-breaking $85.7 billion public listing on the Nasdaq.
Investor optimism has been driven by SpaceX’s ambitions in artificial intelligence, space-based data centres and the long-term goal of human settlement on Mars. The company also announced a $60 billion acquisition of AI coding start-up Cursor’s parent company, Anysphere, further expanding its footprint in the AI sector.
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