SpaceX Briefly Tops Microsoft with $2.94 Trillion Market Cap After IPO
MSFT•SpaceX’s market cap climbed to $2.94 trillion intraday, briefly surpassing Microsoft’s $2.93 trillion to become the fourth-largest U.S. company. The jump followed its largest-ever IPO and the announcement of a $60 billion acquisition of AI coding tool Cursor.
1. Market Cap Overtake
SpaceX stock jumped 15% on Tuesday, lifting its intraday market valuation to $2.94 trillion and briefly surpassing Microsoft’s $2.93 trillion, elevating SpaceX to the fourth-largest publicly traded U.S. company.
2. Historic IPO Surge
Shares opened at $150 on Friday against a $135 IPO price, surged 19% in the debut session and another 6% on Monday, propelling SpaceX past a $2 trillion valuation by the end of the second trading day.
3. $60 Billion Cursor Acquisition
SpaceX announced a $60 billion deal to acquire AI coding startup Cursor, aiming to integrate automated programming tools into its enterprise offerings and justify further valuation increases.
4. Implications for Microsoft
Microsoft now faces intensified competition for market cap leadership and investor capital as SpaceX’s rapid ascent underscores growing enthusiasm for space and AI investment themes.
