SpaceX Is Buying Cursor

SpaceX has overtaken Amazon to become the world's fifth most valuable company, valued at $2.78 trillion following its record-breaking Nasdaq IPO that raised $85.7 billion, with its stock price surging over 50% since the initial offering. The company announced it is acquiring AI coding startup Cursor for $60 billion as part of its efforts to expand its artificial intelligence business. Despite its soaring market value, SpaceX currently operates at a loss of $4.3 billion while generating only $18.67 billion in annual revenue, compared to Amazon's substantial $30.3 billion quarterly profit, suggesting investor enthusiasm is based on future potential rather than current financial performance.