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SpaceX valuation balloons to $2.6T, briefly passes Amazon
TechCrunch • • general
Key Points:
- SpaceX briefly became the fifth-most valuable company globally, surpassing Amazon and nearly overtaking Microsoft, before its shares declined by market close on Tuesday.
- The company's stock surged following its acquisition announcement of AI coding firm Cursor and the start of options trading, reaching a peak valuation of $2.9 trillion.
- Despite a $4.9 billion loss on $18.7 billion revenue last year, SpaceX's valuation increased by about $1 trillion since its IPO, fueled by new AI-related revenue streams and investor optimism.
- SpaceX raised nearly $86 billion in fresh capital through its IPO, which offered only 4% of its shares publicly, leading to high stock volatility with over half of available shares traded on Tuesday.
- The acquisition of Cursor, valued at $60 billion in company shares, aligns with Elon Musk's efforts to rebuild the AI division within SpaceX, following earlier structural changes to the unit.
