SpaceX (SPACEX) Market Cap Reaches $2.94T, Surpassing Microsoft
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowOn Tuesday, SpaceX (SPACEX) shares rose approximately 9%, reaching a market cap of $2.94 trillion, briefly surpassing Microsoft's $2.93 trillion. The increased valuation follows a record-setting IPO on Friday, with shares surging around 62% from the IPO price of $135. Additionally, SpaceX plans to acquire AI startup Cursor for $60 billion, expected to close in Q3 2023. Despite the rapid rise, CFRA has initiated coverage of SpaceX with a 'sell' rating and a 12-month price target of $115, citing ambitious growth strategies and capital intensity concerns.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Microsoft Corporation (MSFT)
Microsoft is a software and cloud-computing giant best known for Windows, Office, and its Azure cloud platform, and a leading investor in enterprise AI.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
Earlier MSFT news
- SpaceX Surpasses MSFT and AMZN Market Value Post IPO Momentum
- Microsoft (MSFT) Reports -13.6% Performance in Q1 2026 Investor Letter
- Microsoft (MSFT) Faces Lawsuit Over Shareholder Expenses Issues
- Microsoft (MSFT) Cloud Revenue Up 40%, Plans $400 Billion Capital Expenditure
- Microsoft (MSFT) Shares Down 14.6% as UBS Maintains Buy Rating
Get the weekly market brief
One email every Monday: what moved, why, and what to watch. Free, unsubscribe anytime.
Get stories like this as they break
Our Telegram channel posts every market story the moment it is published. Free, and you can mute or leave anytime.
Related News
Waymo Plans To Increase Fleet Size To 20,000 Vehicles
Oct 19
Match Group Reports 20% of Relationships Begin on Dating Apps, Survey of 3,007 Singles
Oct 19
Anthropic Remains Silent on Share Distribution to Americans After Musk's SpaceX Pledge
Oct 19
Nscale and Anthropic Discuss $45 Billion Cloud Deal, Bloomberg Reports
Oct 19