SpaceX overtakes Amazon as world's fifth most valuable company

SpaceX staff and guests celebrate the company's IPO in New York on Friday. SpaceX staff and guests celebrate the company's IPO in New York on Friday. SpaceX overtakes Amazon to become world's fifth most valuable company Elon Musk's firm briefly reached $2.97tn valuation days after its IPO following purchase of AI coding startup Cursor SpaceX has overtaken Amazon to become the world's fifth most valuable company days after its stock market debut . The milestone came as Elon Musk's company agreed to buy the startup behind the AI-powered coding app Cursor for $60bn (£44bn), in an attempt to capitalise on the technology's success as a coding tool. SpaceX is the parent of Musk's AI business, xAI, which will be able to boost its capabilities in an area - AI systems writing code - that has proven to be a strong commercial success for Anthropic, the rival company behind the Claude chatbot.