SpaceX acquires Cursor for $60B
SpaceX announced an all-stock acquisition of AI coding startup Cursor for $60 billion; Cursor's annual sales recently hit $4 billion.
Snapshot · Pivot
Trump's Iran Deal, SpaceX’s Wild Ride, and Snap’s Specs
Explore episode
Jun 19, 2026
Where this was said
SpaceX IPO: The Most Remarkable Debut in Years
At 38:00 · chapter starts 37:17
Kara runs through the numbers — SpaceX shares up around 50% from the IPO price, the company briefly hitting $2.5 trillion, surpassing Amazon to become the 5th largest company, and trading options volumes of 1.8 million contracts on day one. Bill Cohen, founding partner of Puck, joins via audio and frames SpaceX as a bundle: one great business (Starlink), one glamorous business (rockets), one lousy business (X and XAI), all wrapped in an astounding Wall Street-hyped valuation. Cohen credits Goldman Sachs and Morgan Stanley for engineering an $85 billion equity raise but warns the stock may have hit a minor peak, and that retail investors could end up holding the bag as lockups expire. [1] — Scott Galloway "Maybe we've hit a minor peak, and maybe as usual it'll be the retail investors that get left holding the bag here." 39:48
SpaceX IPO: 130x Revenue and Rising
SpaceX went public, surged 50% in its first days, and now trades at 130 times revenues — making it the 5th largest company, ahead of Amazon. At that multiple, buying Cursor at 15x revenues is actually accretive. Everything in the market now looks cheap by comparison.
SpaceX surpassed Amazon in market cap
In its first days of trading SpaceX shares surged ~50%, making it the 5th largest company by market cap and surpassing Amazon at roughly $2.35 trillion.
SpaceX Acquires Cursor: The Smart Move
SpaceX acquired Cursor, the AI coding tool with 26% market share and $4B in annual sales, for $60 billion in stock — just a 3.5% dilution at SpaceX's $2.5T market cap. It solves the Groq embarrassment, adds enterprise revenue, and gets SpaceX top-tier AI engineering talent.
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