SpaceX rose to a market cap of nearly $2.93 trillion after its shares jumped more than 17%, briefly pushing the Elon Musk-owned aerospace company ahead of both Amazon and Microsoft in global company rankings.
summary
- Shares of SpaceX rose more than 17%, briefly surpassing Microsoft and surpassing Amazon in market cap.
- Investors have cheered SpaceX’s planned $60 billion merger with Cursor AI developer Anysphere.
- Binance’s SPCXUSDT contract has surpassed $5.6 billion in daily volume and $9 billion overall.
According to data from Yahoo Finance, SpaceX shares rose as much as 17.21% on Tuesday to an intraday high of $225.64, raising the company’s valuation to about $2.93 trillion.
The move temporarily placed SpaceX above Microsoft, whose shares fell 1.63% to value the software giant at about $2.92 trillion. Microsoft later regained its ground after SpaceX pared some gains, although the aerospace company remained comfortably ahead of Amazon.
At the time of writing, Amazon shares were up 0.68%, giving the company a market value of about $2.66 trillion, well below SpaceX despite volatility in early trading.
The latest rally has extended the momentum that started the previous day. SpaceX stock rose 19.6% on Monday Next news of the US-Iran peace agreement, before advancing another 11.57% in after-hours trading. Shares then added nearly 10% in premarket activity on Tuesday before accelerating further after the opening bell.
Index consolidation drives investor demand
According to SpaceX, the company and its subsidiary X67 Inc. Merger agreement with Anysphere Inc., developer of Cursor AI. Under the proposed deal, X67 will become a wholly-owned subsidiary of SpaceX.
All of Cursor’s common and preferred shares will automatically convert to rights attached to SpaceX shares once the merger closes, SpaceX said. The company valued Cursor at about $60 billion in the all-stock deal.
Regulatory approvals and customary closing conditions are still pending, with SpaceX stating that completion is expected during the third quarter of 2026.
Investor enthusiasm surrounding the merger announcement appears to have fueled a lot of pre-market buying activity. Reports leading up to the company’s Nasdaq debut indicated that retail demand for SpaceX shares had risen Significantly exceeded Offer available with some investors It is said And seeking additional financing and loans to increase its allocations.
Binance activity highlights the growing interest
Interest in SpaceX has also expanded to include cryptocurrency-related markets. Such as crypto.news I mentionedBinance said its SPCXUSDT perpetual futures contract has become the exchange’s second-largest futures producer in terms of trading volume, trailing only Bitcoin perpetual futures contracts.
According to Binance, the contract generated more than $5.6 billion in 24-hour trading volume and more than $9 billion in total volume during the pre- and post-IPO trading periods.
Binance also stated that it currently leads both centralized and decentralized trading activity for the product while holding the largest open interest position among competing venues.
The increase in derivatives activity has coincided with increased interest in SpaceX following its public listing. Binance also reported that its equity-linked products exceeded $1 billion in turnover within nine days, with contracts tied to SpaceX contributing to this growth as traders sought exposure to the company’s rapidly rising valuation.
Disclosure: This article does not constitute investment advice. The content and materials contained on this page are for educational purposes only.
