SpaceX, the space research and artificial intelligence (AI) company owned by Elon Musk, has placed in the list of the world’s fifth top company by market value, leaving behind the world-famous e-commerce giant Amazon. The company reached this milestone last Tuesday when the share price of SpaceX jumped more than 14 percent.

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Based on the current market price of the shares, SpaceX’s market capitalization stands at 2.89 trillion US dollars. In contrast, Amazon’s current market value is $2.67 trillion. Earlier, at one point in the transaction, SpaceX also surpassed Microsoft’s market value of 2.92 trillion dollars. Nvidia, Google’s parent company Alphabet, Apple and Microsoft are respectively ahead of SpaceX in terms of market value.

Looking at the market value of the top 10 technology companies in the world, it can be seen that chip maker Nvidia tops the list with a market value of 5.09 trillion dollars. After that, Google’s parent company Alphabet is in the second position with 4.46 trillion dollars and the technology giant Apple is in the third position with 4.34 trillion dollars. Microsoft, which is in fourth position, has a market value of 2.92 trillion dollars. SpaceX in fifth place has a market value of 2.89 trillion dollars, but right behind it is Amazon in sixth position with 2.67 trillion dollars. Next on the list are Broadcom at $1.85 trillion, Meta at $1.52 trillion, Tesla at $1.51 trillion and chip maker Micron at $1.24 trillion.

Stock options have recently been introduced to give investors a new opportunity to trade in SpaceX’s newly listed shares on the stock market. And with the launch of this facility, the victory of SpaceX in the stock market has started. According to Reuters data, SpaceX shares were trading several times higher than those of Nvidia, Microsoft, Tesla and Apple combined on Tuesday. SpaceX has announced its dominance in the enterprise artificial intelligence market on the same day amid this surprise of the stock market. The company said that they are buying the software company Anisphere, the main inventor of the world-famous AI coding agent ‘Cursor’, for 6000 million (60 billion) US dollars.

Since its inception in 2022, Cursor has made quite a splash in the tech world by creating efficient and accurate AI agents for coding. As a result of this acquisition, market analysts believe that Elon Musk’s another popular artificial intelligence company ‘XAI’ will get a big technological advantage.