New Delhi — SpaceX surpassed Microsoft on Tuesday to become the fourth-largest company in the United States by market capitalization, extending a sharp post-IPO rally and announcing a major artificial intelligence acquisition.
Shares of the Elon Musk-led aerospace and technology company rose about 8 percent in early trading, lifting its market value to roughly $2.74 trillion. The gain pushed SpaceX ahead of Microsoft and widened its lead over Amazon, which was valued at about $2.65 trillion at the same time.
The latest jump adds to SpaceX’s strong run since its record-setting stock market debut on Friday. After rising 20 percent on its first full trading day, the company’s shares have continued to draw heavy investor interest, making it one of the most closely watched post-IPO performances in recent years.
Investor enthusiasm has been fueled by SpaceX’s core space and satellite businesses, as well as its growing focus on artificial intelligence.
The company said Tuesday that it will acquire Cursor, a fast-growing AI coding assistant, in an all-stock deal valued at $60 billion.
Cursor has become a major player in the artificial intelligence software market, offering tools that can write code and assist with software development. The platform competes with other AI coding products, including Claude Code and Codex.
According to SpaceX, Cursor is already used by 64 percent of Fortune 500 companies, underscoring its expanding role in enterprise software.
SpaceX previously disclosed in April that it had secured rights to acquire Cursor. The deal is expected to strengthen the company’s position in the AI market and expand its capabilities in software development and automation.
The acquisition also reflects SpaceX’s broader investment push into artificial intelligence. The company spent about $12.7 billion on AI-related initiatives in 2025 and another $7.7 billion in the first quarter of 2026.
The Cursor deal is among the largest AI transactions SpaceX has undertaken to date. (Source: IANS)
