tech
SpaceX to acquire Cursor for $60B in stock, days after blockbuster IPO
The deal is supposed to help SpaceX's struggling AI division. The company told IPO investors it sees a $26 trillion addressable market in AI.
TL;DR
- SpaceX is acquiring AI coding startup Cursor for $60 billion in stock.
- The deal aims to strengthen SpaceX's AI division, which merged with Elon Musk's xAI.
- Cursor was previously on track for a $2 billion funding round valuing it at $50 billion.
- SpaceX's IPO highlighted a potential $26 trillion addressable market in AI.
- The acquisition follows controversies within SpaceX's AI division, including non-consensual deepfakes.