SpaceX Surpasses Amazon to Become the Fifth Most Valuable Company Globally
SpaceX has overtaken Amazon in market value, becoming the world's fifth most valuable company after a significant increase in its share price following a major public listing.
Elon Musk's aerospace company, SpaceX, has surpassed Amazon to secure its place as the fifth most valuable company in the world, following a remarkable surge in its share price. This surge occurred shortly after SpaceX joined the Nasdaq stock exchange in New York, marking the largest public listing ever.
The company's share price has increased by over 50%, resulting in a valuation of approximately $2.78 trillion (£2.1 trillion). In contrast, Amazon, the extensive retail and media conglomerate founded by Jeff Bezos, currently holds a market value of around $2.66 trillion.
The increase in SpaceX's valuation coincided with the announcement of its acquisition of the AI coding startup Cursor for $60 billion. SpaceX will take over Anysphere, the parent company of Cursor, which specializes in developing artificial intelligence coding agents.
Investor enthusiasm for SpaceX has surged, largely driven by the company's ambitious plans to deploy AI data centers in space and its long-term vision of human colonization of Mars. The public listing of SpaceX generated $85.7 billion, making Elon Musk the world's first trillionaire. After initially selling shares at $135 each on Friday, the price has climbed to $209.
However, analysts have raised concerns about the sustainability of SpaceX's elevated share price, citing significant uncertainty regarding its future earnings potential. While Amazon is a ubiquitous brand encountered by consumers daily, SpaceX remains less integrated into the everyday lives of the general public.
Despite SpaceX's market capitalization surpassing that of Amazon, the financial performance of the two companies is markedly different. In the first quarter of 2026, Amazon reported a profit of $30.3 billion, whereas SpaceX, which is heavily focused on future innovations, recorded a loss of $4.3 billion. In 2025, Amazon achieved sales of approximately $716.9 billion, while SpaceX reported revenues of $18.67 billion.
Investor sentiment appears to favor the potential achievements of SpaceX. The company is primarily focused on the production and launch of reusable rockets, in addition to its Starlink internet satellite launches, and is increasing its involvement in the competitive AI sector.
SpaceX and Cursor have collaborated since April, when Musk's firm announced it would acquire Cursor for $60 billion or alternatively pay $10 billion for their joint work. Cursor's technology automates coding, a prominent application of artificial intelligence, similar to offerings from companies like OpenAI and Anthropic.
This partnership aims to enhance SpaceX's AI business, xAI, which is known for the controversial Grok chatbot. In their April announcement, SpaceX stated, 'The combination of Cursor's leading product and distribution to expert software engineers with SpaceX's million H100 equivalent Colossus training supercomputer will allow us to build the world's most useful models.'
Cursor is utilized by major corporations such as Stripe, Adobe, and Nvidia, with Nvidia's CEO Jensen Huang calling it his 'favorite enterprise AI service.' SpaceX has indicated that the acquisition deal is expected to be finalized by the end of September, with Cursor's shareholders receiving $60 billion in SpaceX shares.
