News · 17 June 2026

SpaceX eclipses Amazon, now world's fifth most valuable company

Elon Musk's company became the world's fifth most valuable after its stock market debut, temporarily reaching a peak of $2.97tn. This milestone happened as it agreed to buy AI coding startup Cursor for $60bn, boosting the capabilities of its xAI business. SpaceX shares have risen around 50% since floating on Friday, ending Tuesday just ahead of Amazon's $2.65tn valuation.

By BriefTea Editorial · 17 June 2026 at 1:20

Reported by The Guardian · How we write briefs

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