New York: SpaceX continued its extraordinary stock market rally this week, surpassing Microsoft to become the fourth-largest company in the United States by market capitalization, while also unveiling a major $60 billion acquisition of artificial intelligence coding platform Cursor.
The Elon Musk-led aerospace and technology company saw its shares rise around 8 per cent during early trading, pushing its market value to approximately $2.74 trillion.
The gain placed SpaceX ahead of Microsoft and further widened its lead over Amazon, which was valued at around $2.65 trillion at the same time. The latest surge extends a remarkable run since SpaceX's record-breaking stock market debut last Friday.
After soaring 20 percent on its first full trading day, the company's shares have continued to attract strong investor demand, making it one of the most closely watched post-IPO performances in recent years.
Investor enthusiasm has been driven not only by SpaceX's core space and satellite businesses but also by its increasingly ambitious push into artificial intelligence.
The company announced an all-stock acquisition of Cursor, a fast-growing AI coding assistant valued at $60 billion.
Cursor has emerged as a major player in the artificial intelligence software market, offering tools that can autonomously write and assist with software development. The platform competes directly with leading AI coding products such as Claude Code and Codex.
