SpaceX valuation jumps on AI business promises

TechCrunch reported that newly public SpaceX briefly passed Amazon to become the world's fifth-most valuable company before giving back some gains. The move followed SpaceX's planned $60B all-stock acquisition of AI coding company Cursor, new options trading, and investor optimism that Elon Musk can turn SpaceX's xAI-linked compute, coding, and model strategy into a trillion-dollar AI business. The valuation story matters because SpaceX is still loss-making, so the market reaction shows how aggressively public investors are capitalizing AI narratives around infrastructure, coding tools, and compute leasing.

Key details: Published June 16, 2026 at 1:11 PM PDT, SpaceX briefly reached a $2.9T valuation before settling near $2.6T, The rally followed the announced $60B stock deal to acquire Cursor, TechCrunch tied the valuation jump to AI compute, xAI, and Cursor revenue expectations.

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