Breaking: Elon Musk’s SpaceX Overtakes Amazon, Microsoft As SPCX Stock Surges 17%
Highlights
- Elon Musk's SpaceX stock rocketed over 17% today.
- At the peak, the company took a lead over tech behemoths: Amazon and Microsoft
- This surge came in the wake of SpaceX announcing a new $60 billion corporate acquisition deal.
Elon Musk’s Space Exploration Technologies Corp. (SPCX) shares rose sharply on Tuesday with over 17% at peak. The SpaceX stock surpassed the valuation of Amazon and Microsoft to become the fourth largest company in the world.
SpaceX Gains Lead Over Amazon, Microsoft
The SPCX stock surged by as much as 17.21% on the day to reach the day’s high at $225.64. This increase led to the company’s market cap growing to $2.93 trillion.
At that time, SpaceX had briefly surpassed Microsoft, whose stock price dipped 1.63% to $393.24 to value at nearly $2.92 trillion. Nonetheless, at the time of writing, SpaceX had around 15% in gains, which ranked it below Microsoft.
Meanwhile, SpaceX also took a lead over Amazon, which was up 0.25% to $246.72 and valued at nearly $2.63 trillion. Despite the volatility in early trade, SPCX still ranked higher than Amazon in value.
The recent surge also came after a massive overnight price rally in the stock. On Monday, the SpaceX stock had rallied 19.60% to $192.50 amid the announcement of the US-Iran peace agreement.
Further, in the after hours, the shares rose another 11.57% to $214.86 in the momentum trade. In addition, the shares surged nearly 10% in premarket trading on Tuesday and began to ramp up again after the market opened.
Why Is The SPCX Stock Up Today?
The SpaceX stock upswing follows a Space Exploration Technologies Corp. and its subsidiary X67 Inc. announcing a merger agreement with Anysphere Inc. For context, this deal would result in X67 Inc. becoming a wholly owned subsidiary of Elon Musk’s SpaceX.
SpaceX has exercised the option to acquire @cursor_ai in an all-stock transaction with the goal of building the world’s most useful AI models.
For the past few months, SpaceXAI has been jointly training a model with Cursor, which will be released in Cursor and Grok Build soon.… https://t.co/X5mepgXgjJ
— SpaceX (@SpaceX) June 16, 2026
All common and preferred shares of Cursor will automatically convert into rights tied to SpaceX shares at the end of the merger. Cursor is valued at about $60 billion on the all-stock basis.
The transaction is subject to regulatory approvals and customary closing conditions and is anticipated to close in the third quarter of 2026, SpaceX said. It was one of the main reasons of the 10% pre-market surge in SPCX stock since it could boost the aerospace company’s market share.
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