SpaceX acquires AI coding startup Cursor for $60B in stock days after IPO
By
Sean O'Kane
Hand-rolled, kettle-boiled, baked to perfection. Worth every minute at the bakery.
Summary
SpaceX has agreed to acquire AI coding startup Cursor for $60 billion in stock, just days after its historic IPO and less than two months after announcing a partnership. The deal aims to bolster SpaceX's AI division, built around Elon Musk's xAI (which merged with SpaceX earlier this year), to help it compete with major AI labs. The AI division has been struggling, undergoing restructuring after controversies including allowing users to generate non-consensual deepfakes. SpaceX told IPO investors it sees a $26 trillion addressable market in AI.
Key quotes
· 3 pulledThe deal is meant to help SpaceX's AI division — built around Elon Musk's AI company xAI, which SpaceX merged with earlier this year — catch up to the major AI labs.
Despite being a centerpiece of its IPO promises, SpaceX's AI division has been in the midst of a restructuring after running into repeated controversies, like allowing users to generate non-consensual deepfakes of women
The company told IPO investors it sees a $26 trillion addressable market in AI.
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