We don’t want to fixate on SpaceX, but what we saw overnight shows the financial firepower this new US$2.6 trillion company will bring to almost every market it touches.
Fresh off its record-breaking IPO, SpaceX agreed to acquire AI coding platform Cursor in a deal valuing the company at US$60 billion, strengthening Elon Musk’s push to close the gap with rivals such as OpenAI and Anthropic in AI-powered software development. The transaction, expected to be completed in 3Q26, will give Cursor shareholders SpaceX stock and significantly bolster the group’s coding capabilities — an area Musk has previously identified as a weakness. More importantly for investors, it’s another example of the enormous capital now flowing into the AI ecosystem, with SpaceX quickly emerging as a major force in the race for talent, technology and market share.
- Investors must not underestimate the speed and influence of SpaceX; it’s got a huge war chest.
MM is neutral towards SpaceX around US$200, but we couldn’t be short!
Add To Hit List
