New Delhi

SpaceXcontinued its stellar post-listing rally on Tuesday, overtaking Microsoft to become the fourth-largest company in the US by market capitalisation while announcing a $60-billion all-stock acquisition of AI coding platform Cursor.

Shares of the Elon Musk-led company rose about 8 per cent in early trading, lifting its market value to nearly $2.74 trillion. The gain pushed SpaceX ahead of Microsoft and further widened its lead over Amazon, valued at around $2.65 trillion.

The latest rise extends a remarkable run since SpaceX's record-breaking stock market debut on Friday. After soaring 20 per cent on its first full trading day, the stock has continued to attract strong investor interest, making it one of the most closely watched IPOs in recent years.

Investor enthusiasm has been driven by both SpaceX's core space and satellite businesses and its aggressive expansion into artificial intelligence. The acquisition of Cursor, a rapidly growing AI coding assistant valued at $60 billion, marks one of the company's biggest AI bets. Cursor develops software that can autonomously write code and assist developers, competing with leading AI coding tools such as Claude Code and Codex.