📈 SpaceX is now worth more than Amazon

🚀 SpaceX to acquire Cursor for $60 billion

🔍 Facebook adds AI search built on user posts

📉 ChatGPT's market share falls below 50% for the first time

👓 Snap launches Specs AR glasses for $2,195

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SpaceX passed Amazon to become the world's fifth-most valuable company, after its stock rose 20% Monday and over 8% early Tuesday, pushing its valuation past $2.7 trillion. It has added $1 trillion since Friday's IPO.

Tuesday's surge followed SpaceX's $60 billion all-stock deal to buy AI coding startup Cursor. The company has also added revenue through compute-leasing deals with Anthropic and Google since folding in xAI.

The math is wild. Amazon booked a $78 billion profit on $717 billion in sales last year, while SpaceX lost $4.9 billion on $18.7 billion. Only 4% of SpaceX shares trade freely, which fuels the swings.

SpaceX agreed Tuesday to buy AI coding startup Cursor for $60 billion in stock, just days after its record IPO. The deal should close in the third quarter, pending regulatory approval.

SpaceX wants the purchase to help its AI arm, built around xAI after February's merger, catch Anthropic and OpenAI on coding tools. Cursor's market share slid from 41% last June to about 26% in May.

SpaceX's stock has jumped from its $135 IPO price to over $200 in days, adding nearly $1 trillion in value. That's roughly 16 Cursors, which makes the $60 billion tab a lot easier to swallow.

Meta launched AI Mode on Facebook on June 15, a search tool that uses its Muse Spark model to synthesize answers from public posts, Groups, and Reels instead of returning a list of links.

Meta also added AI photo presets for clothes, hair, and accessory swaps, one-tap profile jerseys, and auto-made collages, plus paid Meta One tiers at $7.99 and $19.99 a month. The cheaper tier undercuts ChatGPT and Gemini; the pricier one matches them.

Meta is running Google's search playbook inside its own walls, trading links for AI answers. But Google's version stumbled on accuracy, and building replies from unvetted user posts probably won't shrink that problem.

ChatGPT's global market share fell below 50% for the first time, dropping to 46.4% by late May, according to Sensor Tower's State of AI 2026 report. It still leads with 1.1 billion monthly users.

Gemini climbed to 27.7% and Claude to 10.3% as users switch assistants more freely. OpenAI's February defense contract triggered a measurable uninstall spike, suggesting users weigh a chatbot's values, not just its features.

Raw user counts aren't everything. Claude converts 13% of its users to paid plans, the best rate in the field, and earns more revenue per user than ChatGPT despite reaching a fraction of the audience.

Snap unveiled Specs, its first consumer AR glasses, at Augmented World Expo on Tuesday for $2,195. Preorders open today with a $200 refundable deposit, and shipping starts this fall in the US, UK, and France.

Specs run on two Snapdragon chips with no tether, offer up to four hours of battery, and add contextual AI that identifies objects you look at. Two wearers can share games just by making eye contact.

Snap has chased this device for over a decade, but the market is brutal. Even category leader Meta loses heavily on AR, so $2,195 glasses aimed at enthusiasts and developers face a steep climb.

A) Yes - 79% 🏆

B) No - 21%

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