SpaceX, founded by CEO Elon Musk, has made history with its recent public trading debut. The company’s shares are now more popular than all other stocks combined, with a valuation of over $2.6 trillion, surpassing Amazon.

Acquisition of AI Company

SpaceX has acquired Cursor, an AI company, for $60 billion in an all-stock deal. This acquisition is expected to help SpaceX catch up to market leaders in the AI industry, including OpenAI and Anthropic.

The company has spent $12.7 billion on AI last year and $7.7 billion in the first quarter of 2026 alone. Despite huge expenses, SpaceX believes the investment is worth it, predicting that enterprise AI applications will become a $22.7 trillion market in the near future.

Market Performance

SpaceX’s stock has risen more than 19% in each of its first two days on the stock market and is up another 5% in premarket trading. The company’s valuation is now higher than Amazon’s, making it one of the most valuable companies on the stock market.

Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.