tech
SpaceX rises 4% to leapfrog Amazon in market cap, closes short of Microsoft
CEO Elon Musk said Sunday that the company "might be able to reach approximately" $1 trillion revenue in 2030.
TL;DR
- SpaceX shares increased approximately 4% on Tuesday.
- SpaceX briefly overtook Microsoft and Amazon in U.S. market capitalization.
- The company announced an agreement to acquire AI coding startup Cursor for $60 billion.
- Elon Musk projected SpaceX could reach approximately $1 trillion in revenue by 2030.
- SpaceX's stock has surged about 62% since its IPO price.
- Some analysts have initiated coverage with a sell rating, citing ambitious growth strategies and high valuation.