SpaceX Just Bought Cursor for $60 Billion. Here's Why the Deal Actually Matters.
Strong retail demand and new options trading fueled SpaceX's surge, pushing its valuation near $3 trillion as it also agreed to acquire AI startup Cursor.
- SpaceX shares jumped for a third straight day on Tuesday, pushing the company's market value to roughly $2.66 trillion and making it the world's fifth most valuable public company.
- Since its June 12 IPO at $135 per share, SpaceX stock has surged nearly 50%, driven by retail traders who bought as much of the stock in two days as the entire US market last week.
- Using its rising share price to reduce dilution, SpaceX announced a $60 billion all-stock acquisition of Cursor on Monday to bolster its Grok AI division against competitors Anthropic and OpenAI.
- Tuesday marked the start of options trading for SpaceX on Cboe Global Markets and Nasdaq, with more than 850,000 lots traded as market makers hedged positions by purchasing additional shares.
- Market watchers anticipate increased downside pressure once lock-up agreements expire later this year, while Anthropic and OpenAI prepare for potential IPOs expected in the $1 trillion valuation range.
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Elon Musk and his company SpaceX have spent a staggering amount of money to acquire AI company Cursor. But experts doubt that this alone will put Musk ahead in the AI race.
SpaceX's Market Cap Surge Makes the $60 Billion Cursor Acquisition Look Nearly Free
On a recent Diet TBPN segment, John Coogan and callers Quinn Thompson and Nick Carter spent a chunk of the show trying to make sense of what happened to SpaceX’s (NASDAQ:SPCX) after-hours quote and what it meant for a deal most retail investors had never heard of. The short version is that SpaceX punched into the top ... SpaceX’s Market Cap Surge Makes the $60 Billion Cursor Acquisition Look Nearly Free
Times of India
The Economic TimesSpaceX surges past Amazon, Microsoft: Why are Elon Musk-led company's stocks, valuation rising?
SpaceX shares surged early on Tuesday as investors bet on Elon Musk's sprawling empire that spans rockets to AI, even though the stock carries a higher valuation than the other trillion-dollar behemoths.
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