- SpaceX completed its June 2026 IPO, raised approximately $85.7 billion in net proceeds, and ended Q2 with $100 billion in cash, cash equivalents and marketable securities.
- The $60 billion all-stock Anysphere acquisition made Cursor a wholly owned SpaceX subsidiary and expanded SpaceX's AI software and compute strategy.
- OpenAI plans to end model access through Cursor on November 12, but Cursor CEO Michael Truell said OpenAI models account for about 5% of user traffic; Anthropic is increasing compute to support Claude in the product.
- Oppenheimer raised its SpaceX price target to $280 from $250 and described Cursor as a transformational addition to SpaceX's AI business.
Quotes
“an absolute game changer.”
“SpaceX really is a competitor to Anthropic.”
“cannot be confident that SpaceX will use our technology within our terms of service, based on our experience with Elon Musk's companies violating contracts”