SpaceX overtakes Amazon as world’s fifth most valuable company

Elon Musk's company, SpaceX, has become the world's fifth-most valuable company, surpassing Amazon, shortly after its initial public offering (IPO). This significant increase in value, reaching $2.97 trillion at one point, was boosted by its agreement to acquire Cursor, an AI-powered coding app startup. The acquisition, valued at $60 billion (£44 billion), aims to leverage the growing success of AI in coding, marking a strategic move for SpaceX into the artificial intelligence sector and reflecting the company's expanding influence beyond its traditional aerospace ventures.