SPACEX STRIKES $60BN AI TAKEOVER – Musk expands AI ambitions days after record-breaking IPO
SpaceX has agreed to acquire artificial intelligence coding start-up Cursor in a deal worth 60 billion dollars, marking a major expansion of Elon Musk’s ambitions in the rapidly growing AI sector.
The agreement comes just days after SpaceX made history with the largest initial public offering ever, raising more than 85 billion dollars and achieving a valuation exceeding two trillion dollars.
Cursor develops AI-powered coding tools used by major technology firms and is considered one of the fastest-growing companies in the sector. The acquisition is expected to strengthen SpaceX’s AI capabilities and support the development of its broader artificial intelligence business.
The transaction is expected to be completed by the end of September, with Cursor shareholders receiving SpaceX stock as part of the deal.
