SpaceX Acquires AI Coding Startup Cursor in $60 Billion All-Stock Deal
SpaceX acquired Cursor, an AI coding startup, in a $60 billion all-stock transaction that gives Cursor shareholders SpaceX stock at the IPO's volume-weighted average price. The acquisition was pre-negotiated in April as an option and closed this week, days after SpaceX's record IPO.
With the greenshoe fully exercised, SpaceX's IPO raised $85.7 billion and briefly valued the company at more than $2.1 trillion, ahead of Amazon and Microsoft by market value. The listing also drew record demand from South Korean retail investors, who bought $796 million of shares on the first trading day, before the stock fell for two straight sessions and slipped back below Amazon by market value.
From the sources (14 posts)
@firstsquawkSPACEX SHARES EXTEND DROP TO SESSION LOW, DOWN 7.9%
@brewmarketsSpaceX just erased $210 billion in value.
@hedgeye@brewmarkets @MorningBrew SpaceX has shed -$330 billion in two days
@bulltheoryioBREAKING: $SPCX is down -22% in the last 2 days, wiping $660 billion from its market cap.
@zerohedge*SPACEX SHARES EXTEND DROP TO 9%
@cointelegraph🚨 UPDATE: SpaceX shares fell for a second straight day, pushing the company’s market cap below Amazon after last week’s historic IPO rally.
@arkhamTrader VBVIT is now the largest SpaceX SHORT in crypto. He started shorting $6.3M SPCX before the stock even began trading - now increasing that short to $28.9M at an average price of $193. VBVIT is up $2.5M in the past 7 days of trading.
@cointelegraph⚡️ JUST IN: Binance processed over $5.7 billion in SPCX pre-IPO perpetual futures volume on June 12, exceeding the combined volume of all other venues.
@globalmktobserv‼️Korean retail investors are rushing into SpaceX at an UNPRECEDENTED pace: South Korean mom-and-pop investors purchased $795.9 MILLION of SpaceX, $SPCX, shares on June 12, its first trading day. TAP IMAGE TO SEE FULL INSIGHT👇 https://t.c
@globalmktobservRT @GlobalMktObserv: ⚠️Retail investors have never piled into a single stock this hard: Over the first 3 trading sessions following SpaceX…
@firstsquawkSOUTH KOREAN RETAIL INVESTORS POUR RECORD $796M INTO SPACEX ON FIRST DAY OF TRADING ACCESS KOREAN RETAIL TRADERS SNAP UP NEARLY $800M OF SPACEX IN SINGLE DAY
@milkroadaiThe biggest IPO in human history just happened and most people are still focused on the stock price when the real story is what Elon built in plain sight over twenty years (Save this). With the greenshoe fully exercised, total proceeds hit
@6uappiA rocket company just outbid Andreessen Horowitz and Nvidia for an AI coding startup. SpaceX acquired Cursor for $60B in stock days after SpaceX’s own IPO made it the fourth-most-valuable company in the US. Here’s the part most headlines
@expresanalytics$60 billion. For a four-year-old coding tool. Easy to laugh at until you notice every @Cursor request that routes to Claude is revenue going to a rival. Own Cursor, make Grok the default. Are we slowly trading neutrality for scale? #Ar