SpaceX Becomes More Valuable Than Amazon & Pizza Hut Sold For $2.7B

**SPEAKER_1** (0:01)
AI is unchartered 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.

**Neal Freyman** (0:29)
Good Morning Brew Daily show. I'm Neal Freyman.

**Kyle Hegge** (0:32)
And I'm Kyle Hegge.

**Neal Freyman** (0:33)
Today, SpaceX is now worth more than Amazon.

**Kyle Hegge** (0:36)
And is Froyo back? It's Wednesday, June 17th. Let's ride.

**Neal Freyman** (0:52)
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 Hagge, 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 it's 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.

**Kyle Hegge** (1:50)
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 on to the Irish home turf and out drank 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. Neal, I am so sick of having homework.

**Neal Freyman** (2:19)
You haven't been in school for years.

**Kyle Hegge** (2:21)
Yeah, well it feels like I have homework dealing with AI that was supposed to handle the parts of work I hate, but just describes the problems back to me.

**Neal Freyman** (2:28)
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**Kyle Hegge** (2:40)
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**Neal Freyman** (2:49)
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 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 and 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. Cursor, founded by four MIT grads all 25 years old, is one of the fastest growing startups in history and sits at the heart of perhaps the most commercially successful use case for AI, Vibe Coding. Kyle, this stock, at least for now, is going to the moon.