On Tuesday morning, SpaceX briefly became the world’s fourth-largest company by market capitalization, surpassing both Microsoft and Amazon. Its valuation touched $2.94 trillion during trading, edging past Microsoft’s $2.93 trillion, following a 30% surge since its recent IPO. The jump coincided with its agreement to acquire AI-coding startup Cursor for $60 billion. CEO Elon Musk also stated on social media that the company “might be able to reach approximately $1 trillion revenue in 2030”, a significant leap from its 2025 revenue of $18.7 billion, despite posting substantial net losses.
SpaceX briefly topped Microsoft as the world’s fourth-largest company by market cap on Tuesday morning. Its valuation reached $2.94 trillion in mid-morning trading before settling lower, as data shows it became neck-and-neck with Microsoft’s $2.93 trillion. The newly public company’s market cap has climbed over 30% in the last five days since its initial public offering.
The company also overtook Amazon on the market capitalization rankings this morning. Tuesday’s gains marked its third consecutive session of increases following the announcement of a deal to buy AI-coding startup Cursor for $60 billion. This acquisition follows a partnership signed in April where SpaceX agreed to either invest $10 billion into Cursor or buy it outright.
CEO Elon Musk posted on social media on Sunday about the company’s future revenue potential. He stated the company “might be able to reach approximately $1 trillion revenue in 2030”, which would be a massive increase from its 2025 revenue of $18.7 billion. SpaceX posted a $4.9 billion net loss in 2025 and lost $4.28 billion in the first quarter of this year.
Cursor is known for its AI coding tool of the same name and was reportedly in talks as recently as April to raise about $2 billion in new funding. The acquisition by SpaceX is expected to close later this year. Its integration under the SpaceX umbrella has contributed to the latter’s surging market valuation.
