SpaceX Pounces on $60 Billion Cursor Takeover Days After IPO

Technically, SpaceX had 30 days following its record-shattering public debut to decide on a $60 billion takeover of the AI coding startup Cursor. In the end, all it took was two trading days.

Early Tuesday, SpaceX formally agreed to buy Cursor in a deal that will entitle the startup’s investors to SpaceX stock. In doing so, Elon Musk is signaling his desire for SpaceX’s xAI to rapidly rebuild and catch up to rivals including Anthropic PBC and OpenAI that have capitalized on demand for artificial intelligence-powered coding tools in a way that his AI business hasn’t.

It’s a shortcoming that ...