SpaceX overtook Microsoft to become the world’s fourth-largest company by market capitalization as its shares surged another 15%, extending gains to roughly 67% since the company’s IPO. The rally places SpaceX behind only Nvidia, Google, and Apple among the most valuable publicly traded companies, underscoring investor enthusiasm for the company’s exposure to space infrastructure, satellite communications, and artificial intelligence.
The stock received an additional boost after reports that SpaceX agreed to acquire Anysphere, the developer behind the rapidly growing AI coding platform Cursor. The transaction is valued at approximately $60 billion and is expected to be completed in the third quarter of 2026 through an all-stock deal.
The acquisition would significantly expand SpaceX’s presence in the AI software market while strengthening Elon Musk’s broader artificial intelligence ecosystem. Analysts view Cursor as one of the fastest-growing developer tools in the industry, and the deal could enhance the competitive position of xAI and Grok as they compete with OpenAI and Anthropic for enterprise and developer adoption.
