SpaceX Surges Past Microsoft in Market Cap, Eyes $60B Acquisition
SpaceX's market capitalization surged to $2.95 trillion on Tuesday, briefly surpassing Microsoft's all-time high of $2.948 trillion. This marks a significant milestone for Elon Musk-led company just days after its blockbuster Nasdaq debut.
The company added $1.18 trillion to its market cap since last week's IPO, catapulting it into the world's top ten companies by market capitalization. At the time of writing, SpaceX had a market cap of $2.78 trillion, compared with Microsoft's $2.93 trillion and Amazon's $2.68 trillion.
SpaceX shares were up more than 10% in Tuesday morning's trade, while Microsoft shares were down about 2%. The company announced on Tuesday that it had entered into a definitive agreement with Cursor parent Anysphere Inc. to acquire it for $60 billion.