SpaceX Overtakes Amazon to Become Fifth-Largest Company by Market Value
Reports from CNBC and MarketWatch stated that SpaceX surpassed Amazon in market capitalization, with MarketWatch identifying it as the fifth-largest company by value.
SpaceX surpassed Amazon in market capitalization to become the fifth-largest company by value, according to reports from CNBC and MarketWatch.
CNBC reported that SpaceX leapfrogged Amazon in market cap and briefly jumped above Microsoft among the top U.S. companies. MarketWatch reported that SpaceX overtook Amazon to become the fifth-largest company in the world and was approaching Microsoft in value.
Forbes reported that the change in SpaceX's valuation coincided with Elon Musk's net worth reaching $1.4 trillion. Musk is the chief executive of SpaceX.
According to MarketWatch, SpaceX agreed to acquire Cursor, an artificial-intelligence coding startup, for $60 billion. MarketWatch described Cursor as an AI coding company and reported details of the transaction.
CBS News reported that a planned SpaceX initial public offering could experience what a market reporter described as a "volatile few hours" after its launch. The CBS News report attributed that characterization to the market reporter cited in its coverage.
The Los Angeles Times published a column by Michael Hiltzik stating that small investors have contributed to SpaceX's higher valuation. In the column, Hiltzik said those investors would bear much of the financial risk associated with the company. The column represents the analysis of its author.
The reports did not provide a single agreed-upon figure for SpaceX's market capitalization at the time it passed Amazon. CNBC and MarketWatch both placed SpaceX among the largest companies by value, with MarketWatch identifying it as fifth-largest.
SpaceX, formally Space Exploration Technologies Corp., was founded by Musk in 2002. Amazon and Microsoft are publicly traded companies.
Key Facts
- —CNBC reported that SpaceX leapfrogged Amazon in market capitalization and briefly jumped above Microsoft among the top U.S. companies.
- —MarketWatch reported that SpaceX overtook Amazon to become the fifth-largest company in the world and was approaching Microsoft in value.
- —Forbes reported that the change in SpaceX's valuation coincided with Elon Musk's net worth reaching $1.4 trillion.
- —MarketWatch reported that SpaceX agreed to acquire Cursor, an AI coding startup, for $60 billion.
- —CBS News reported that a planned SpaceX initial public offering could experience what a market reporter described as a "volatile few hours" after its launch.
- —A Los Angeles Times column by Michael Hiltzik stated that small investors have contributed to SpaceX's higher valuation and would bear much of the associated financial risk.
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