SpaceX acquires AI coding platform Cursor
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Analyst Paul Meeks says there are a few catalysts that could spark a drop in SpaceX stock in the coming months.
SpaceX just agreed to buy AI coding startup Cursor for $60 billion. Here's what the blockbuster deal means for Elon Musk's battle with Anthropic and OpenAI.
SpaceX gained for a fourth straight day, cementing the company’s place among the world’s most valuable stocks after it surpassed Amazon.com Inc.
"I am not involved with SpaceX now. Neither short nor, ahem, long," Burry wrote in a tongue-in-cheek allusion to his misgivings about the company.
Cursor, which started in 2022, helped spark a trend called “vibe coding” as AI coding assistants have become increasingly capable of doing the work of computer programming.
Shares fell by as much as 7% during volatile trading - after they had been up by 6% earlier in the session. They eventually closed almost 5% lower.
SpaceX is now bigger than Amazon. Its shares are more popular than every other stock on the market, combined. And it just bought an AI company for $60 billion.
SpaceX says the grid can't power AI, so it's betting on space. But its Colossus computers run on contested gas turbines the Justice Department now defends.
Shares in Elon Musk’s SpaceX have been on a tear, giving the rockets and artificial intelligence company financial resources to box out competitors.
The deal will help to bolster the company's efforts to compete with rivals like Anthropic and OpenAI, which also offer popular coding tools.
Capital at risk. The value of your investments can go up and down, and you may get back less than you invest. Founded in 2002 by entrepreneur trilli
