Musk's SpaceX Hits $2.78 Trillion | Overtakes Amazon as World's No. 5 Firm | LIVE

Elon Musk's SpaceX has overtaken Amazon to become the world's fifth most valuable company after a surge in its share price. Days after joining New York's tech-focused Nasdaq stock exchange in the biggest public listing ever, its share price has risen by more than 50%.

It leaves Musk's rocket company worth about $2.78tn (£2.1tn), while Jeff Bezos's sprawling online retail and media empire is currently worth about $2.66tn. The boom in SpaceX's value came as it announced it was buying AI coding start-up Cursor for $60bn.

SpaceX said it would take over Anysphere, Cursor's parent company, which makes the artificial intelligence coding agent.

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