Story perspectives

SpaceX Overtakes Amazon, Becomes Fifth-Largest, Announces $60B Cursor Deal

6/17/2026

Summary

Story summary

SpaceX overtook Amazon as the world’s fifth-largest company on June 16, 2026.
Its market value rose to about $2.8 trillion, surpassing Amazon’s $2.67 trillion.
SpaceX announced a $60 billion all-stock purchase of Cursor.
Shares climbed from $135 on June 12, 2026 to $209 by June 16, 2026.
SpaceX reported $18.67 billion revenue for 2025 but a $4.94 billion net loss after merging with xAI, prompting CFRA to issue a “sell” rating with a $115 target price.

History

Historical Context

In August 2018 Apple became the first U.S. company to top a $1 trillion market valuation, a leap from its $624 billion record in August 2012. Under CEO Tim Cook, the firm continued to break caps, reaching $2 trillion in August 2020, cementing its role as a benchmark for mega-cap tech firms and prompting regulators to scrutinize such growth.

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Story summary

SpaceX overtook Amazon as the world’s fifth-largest company on June 16, 2026.
Its market value rose to about $2.8 trillion, surpassing Amazon’s $2.67 trillion.
SpaceX announced a $60 billion all-stock purchase of Cursor.
Shares climbed from $135 on June 12, 2026 to $209 by June 16, 2026.
SpaceX reported $18.67 billion revenue for 2025 but a $4.94 billion net loss after merging with xAI, prompting CFRA to issue a “sell” rating with a $115 target price.

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