Elon Musk’s AI, rocket and satellite group also announces $60bn deal for AI coding app Cursor

SpaceX shares surged 16% on Monday, lifting SPCX nearly 39% above its IPO price and pushing its valuation near Amazon’s market cap.

SpaceX completed the largest IPO in history, raising $75 billion and reaching a $2.5 trillion valuation to become the sixth largest US public company.

Elon Musk's SpaceX is experiencing a significant surge in its stock value. Shares rose over 10% in premarket trading on Tuesday. This rally puts SpaceX on track to surpass…

The stock, which surged more than 19% on Monday, was last up 10.1% at $211.8, giving the company a market capitalisation of nearly $2.8 trillion if gains hold.