SpaceX Becomes More Valuable Than Amazon & Pizza Hut Sold For $2.7B
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AI is uncharted territory, and many leaders are trying to navigate through without a guide to help them. That's why Morning Brew created The Intelligence Shift, a new podcast with PWC. It's all about how AI is fundamentally changing different industries. Host Dan Priest is joined by a top-tier roster of industry leaders who share real stories and real lessons learned. Get guidance from industry experts. Listen to The Intelligence Shift wherever you get your podcasts.
Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Kyle Hagee. Today, SpaceX is now worth more than Amazon.
And is Froyo back? It's Wednesday, June 17th. Let's ride.
We lost Toby, y'all, but gained a Kyle. Toby is in Europe at a wedding for the remainder of the week, but I'm overjoyed to be joined by six man of the year, Kyle Hagee, who's filling in. And Kyle, did you see this? Boston is running out of beer, all because of Scottish soccer fans known as the Tartan Army. Thousands of Scots have descended on Boston to cheer on their team in the World's Cup, but not before they toss back a few pints around the city's pubs. Well, more than a few. Sam Adams said its Boston taproom ran out of Boston lager over the weekend thanks to the Scots, adding that the Tartan Army drank more than four times as much as it normally sells during a typical holiday weekend like July 4th.
Over at Hennessy's Bar downtown, they tripled their St. Patrick's Day sales and sold out of beer. Meanwhile, Federal Wine and Spirits told the Boston Globe that they got cleaned out of bud and corona and the door to one of their refrigerators broke because they were opening and closing it so many times. Kyle, it do be like they say, no Scotland, no party.
That is true. I mean, look, I'm a massive fan of the Tartan Army now. Scotland, I wasn't familiar with your game. Incredible work. And they kind of came out of the Irish home turf and outranked them of Boston. I will say, very fun story, the World Cup content of Europeans coming to America and just enjoying the heck out of it has been so fun to watch. I think it's the content everyone wants to see. Shout out to Scotland. And now a word from our sponsor, ServiceNow.
Why is SpaceX now valued higher than Amazon?
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Lucky for you, ServiceNow's AI specialists are different. They aren't a tool. Think of them as digital teammates who can actually do the work. They can resolve cases, process requests, close loops without generating extra work for you.
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To put AI to work for people, visit servicenow.com. That's servicenow.com. Last Friday, SpaceX pulled off the biggest IPO in history. Since then, it's only gotten bigger, much bigger. Elon Musk's rocket and AI giant has blasted off on the stock market, climbing another 5% yesterday to topple Amazon's as the fifth biggest company in the world. SpaceX is now worth $2.65 trillion, surging 49% since its public listing and staring down Microsoft at number four on the list. In a career that's left people's jaws on the floor for good and bad, this might be Elon's most gravity-defying accomplishment yet. At the same time it's climbing up the charts, SpaceX is making aggressive moves to ensure it's bringing in the money to justify its questionably gigantic valuation.
Yesterday, it agreed to take over Cursor, an AI coding startup, in a deal valued at $60 billion. Before SpaceX's IPO in April, it signed an unusual arrangement with Cursor that gave it the right to buy the startup later in the year. All it took was four days after the IPO for Elon to pounce. Cursor is a big get for SpaceX's AI ambitions because remember, Not only does this company send rockets to space, but it also aims to become the dominant force in artificial intelligence.
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