SpaceX has overtaken Amazon to become the fifth-largest company in the world by valuation, and it is now closing in on Microsoft, according to MarketWatch. The jump came after an overnight price spike pushed the Elon Musk-led company past its e-commerce rival in the rankings.
The company also announced it plans to follow through on an option that allows it to purchase Cursor, an artificial intelligence startup. The move signals that SpaceX is pushing further into AI alongside its core aerospace and satellite businesses.
SpaceX remains a private company, which makes its ranking among the world's largest firms notable. Most of the companies it now rivals or trails are publicly traded, with their valuations updated continuously in real time. SpaceX's climb into that tier reflects how private market valuations have grown for major technology and aerospace ventures in recent years.
Microsoft sits directly ahead of SpaceX in the rankings. Whether SpaceX closes that gap will depend on continued investor confidence in both its launch business and its Starlink satellite internet service, which has expanded rapidly across international markets.
The planned acquisition of Cursor adds another dimension to the company's profile. Cursor is an AI-powered coding tool that has attracted significant attention in the software development community. No financial terms for the deal were reported.
