Space Exploration Technologies (SPCX+4.36%) is coming off the biggest IPO in history, raising a record $85.7 billion on Feb. 12 as Elon Musk’s SpaceX became a publicly traded company. And now it’s putting some of that money to use.
In a filing with the Securities and Exchange Commission, SpaceX announced that it entered into a formal agreement to purchase the parent company of artificial intelligence start-up Cursor for $60 billion in stock. The acquisition is expected to close in the third quarter.
The all-stock acquisition of the Cursor parent, Anysphere, was expected — in SpaceX’s prospectus, it disclosed that it entered into a partnership with Cursor in April that included an option to purchase the coding company.
Cursor, based in San Francisco, operates an AI coding tool that generates code through agentic AI. Its software has become popular in many companies, and is used by OpenAI, Datadog, Nvidia, Adobe, and others.
Source:
Diem ‘Richard’ Nguyen
Liên Minh Bảo Hiến Mỹ Gốc Việt
Vietnamese American Conservative Alliance (VACA)
https://freedom-vaca.org/vaca-blog-tieng-viet-nam/