SpaceX (NASDAQ:SPCX) continues its historic market performance, with its valuation climbing toward $2.7 trillion. According to data from GuruFocus, the company’s shares rose by as much as 19% in recent trading, building on a 40% gain since its record-breaking initial public offering. This surge positions SpaceX to potentially overtake Amazon as the fifth-largest publicly traded company globally.
The market rally is significantly driven by retail investor activity, with Vanda Research noting that retail purchases of SpaceX stock in the first two days matched their total activity across the broader US market last week. Analysts caution that the stock’s volatility is exacerbated by a limited initial float, with only 4.2% of shares available for trading at launch.
Parallel to its market growth, SpaceX confirmed it is acquiring the AI coding platform Cursor for $60 billion. The acquisition, which is expected to close in the third quarter of 2026 according to SEC filings, aims to bolster the company’s enterprise AI capabilities. The move is widely seen as an effort to close the competitive gap with rivals such as Anthropic and OpenAI, particularly in the automated programming sector.