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SpaceX, the aerospace company led by Elon Musk, has become the fourth-largest U.S. company by market capitalization. On Tuesday (June 16), SpaceX's stock surged by 10%, elevating its market value to $2.94 trillion, surpassing Microsoft's $2.93 trillion valuation. This milestone follows SpaceX's record-breaking initial public offering (IPO) last Friday (June 12), which also saw it surpass Amazon.
The company's shares have risen approximately 35% since trading began on the Nasdaq, driven by strong investor interest. SpaceX's IPO was the largest in history, with shares initially priced at $135 and opening at $150. As reported by CNBC, the stock climbed to a high of $176.52 during its debut session.
SpaceX's recent acquisition of Anysphere for $60 billion has further fueled its stock's ascent. Anysphere, known for its AI-powered coding agent Cursor, will enhance SpaceX's AI capabilities. According to Fox Business, this acquisition aligns with SpaceX's plans to develop space-based AI data centers.
Despite its rapid growth, SpaceX remains behind Apple, the third-largest U.S. company, with a market value exceeding $4 trillion. The company's success has also solidified Musk's status as the world's first trillionaire. SpaceX's future plans include deploying space-based AI data centers to meet the growing demand for electricity driven by AI advancements.