SpaceX has struck a $60bn deal to buy the maker of fast-growing coding app Cursor, as a blistering stock-price rally put Elon Musk’s rocket company within reach of overtaking Amazon’s market value.
SpaceX shares climbed as much as 10 per cent in pre-market trading on Tuesday, its third day of trading after Friday’s record-breaking initial public offering, in one of the most anticipated debuts in stock market history.
That would take its gains to more than 50 per cent since the company listed on Nasdaq and put SpaceX on course to leapfrog Amazon as the world’s fifth-largest company by market value. However, SpaceX later pared those gains ahead of the market open, putting the two companies neck-and-neck at a valuation of more than $2.6tn.
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