Musk's SpaceX overtakes Amazon to become world's fifth most valuable firm

Elon Musk's SpaceX has overtaken Amazon to become the world's fifth most valuable company after a surge in its share price.

Days after joining New York's tech-focused Nasdaq stock exchange in the biggest public listing ever, its share price has risen by more than 50%.

It leaves Musk's rocket company worth about $2.78tn (£2.1tn), while Jeff Bezos's sprawling online retail and media empire is currently worth about $2.66tn.

The boom in SpaceX's value came as it announced it was buying AI coding start-up Cursor for $60bn.

SpaceX said it would take over Anysphere, Cursor's parent company, which makes the artificial intelligence coding agent.

SpaceX has garnered huge enthusiasm among investors for its vision of sending AI data centres to space and even helping humans to colonise Mars.

Its listing raised $85.7bn and minted Musk as the world's first trillionaire. Since first selling shares to the public at $135 each on Friday, they have risen to $209.

But analysts have questioned the sustainability of its high share price given the huge amount of uncertainty over its future earnings.

While Amazon is a household name, with its brand difficult to avoid being encountered on an almost daily basis, SpaceX is less embedded in the lives of the general public.

Despite SpaceX's stock market value overtaking Amazon, the revenues and profits made by the companies are vastly different.

Amazon made $30.3bn of profit in the first quarter of 2026, while Musk's future-focused SpaceX lost $4.3bn.

In 2025, Jeff Bezos's firm accrued some $716.9bn in sales, while SpaceX recorded $18.67bn.