SpaceX valuation balloons to $2.6T, briefly passes Amazon
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SpaceX's valuation surged to $2.9 trillion briefly on Tuesday before settling at $2.6 trillion, temporarily surpassing Amazon to become the fifth-most valuable company in the world. The spike was driven by news of SpaceX's $60 billion all-stock acquisition of AI coding tool Cursor and the start of options trading. SpaceX went public on Friday at a $1.7 trillion valuation, raising nearly $86 billion. Despite posting a $4.9 billion loss on $18.7 billion in revenue last year, investors are betting on its AI ambitions, including compute leasing deals with Anthropic and Google. The stock's volatility is partly attributed to only 4% of total shares being made available for public trading.
