Elon Musk’s SpaceX has risen to fifth place among the world’s most valuable companies, overtaking Amazon in market capitalization. This came after the company went public and amid news of its $60 billion acquisition of Anysphere, the developer of the popular AI programming assistant Cursor.
SpaceX shares rose 13% in trading on the Nasdaq, giving the company a market capitalization of $2.97 trillion. This temporarily overtook Amazon, whose market value was $2.65 trillion. By the close of trading, SpaceX’s market capitalization had fallen to $2.66 trillion, but it still remained higher than its competitor.
The deal with Anysphere should strengthen SpaceX’s position in the artificial intelligence market. Startup Cursor has become one of the most popular tools for programming automation, and access to its more than a million users could help the company develop its own AI solutions.
The SpaceX group includes xAI, the social network X, the satellite Internet service Starlink, and a space business. Analysts believe that the acquisition of Cursor will enable the company to compete more effectively with the leaders in the artificial intelligence market, OpenAI and Anthropic.
According to Forbes, after the rapid growth in the value of the company’s shares, the fortune of the company’s founder, Elon Musk, has exceeded 1.3 trillion dollars.