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Wed, 17 Jun 2026

Wed, 17 Jun 2026 Musk's SpaceX overtakes Amazon to become world's fifth most valuable firm

Elon Musk's rocket firm has overtaken the retail and media empire in value after a surge in its share price.
SpaceX, led by Elon Musk, has surpassed Amazon in value and become the world's fifth most valuable company after its share price surged by over 50% following its public listing on the Nasdaq exchange. The company's valuation now stands at $2.78 trillion, while Amazon's value is at $2.66 trillion. This growth comes as SpaceX announced plans to acquire AI coding start-up Cursor for $60 billion and integrate its technology into the company's existing AI business. Despite some analysts expressing concerns about the sustainability of SpaceX's high share price, investors appear to be betting on the company's potential future earnings. However, critics argue that many traders are buying into Musk's vision rather than evaluating SpaceX's financial fundamentals.