SpaceX surpassed Amazon to become the fifth-largest US company by market cap, hitting $2.7 trillion by Tuesday — up 56% from its $135 IPO price — then deployed its inflated stock currency to acquire AI coding startup Cursor for $60 billion. NYU's Aswath Damodaran pegs SpaceX's fair value at roughly half the current market cap, but Elon Musk tells investors he sees a path to $1 trillion in annual revenue.

Oil prices are in free fall. Brent crude plunged below **$79...