SpaceX Stock Jumps 10% on $60B Cursor Deal, Adding $247B in Market Cap

What happened?

1. Cursor’s annualized business-to-business revenue reached $2.6 billion, and it had surpassed $1 billion in total annualized revenue by the end of 2025, with customers including Nvidia, Adobe, and Datadog.
2. SpaceX’s IPO on February 12, 2026 raised $85.7 billion at a $2 trillion-plus valuation; its shares have since risen over 56% to $211.27, gaining nearly 10% premarket after the deal announcement.
3. Cursor cited compute bottlenecks as a key growth constraint; the deal provides access to xAI’s Colossus supercomputing infrastructure to scale its agentic coding models.
4. SpaceX did not use IPO proceeds for the purchase; the transaction is all-stock, and the company’s market cap added approximately $247 billion on the news.

SpaceX’s $60 billion all-stock deal for AI coding platform Cursor sent shares up 10%, adding $247 billion to its $2.53 trillion market cap. The acquisition does not use IPO proceeds.

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