SpaceX Shares Drop 6% In 1st Decline Since Historic IPO
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Musk's SpaceX surges past Amazon in market cap
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One previously unreported SpaceX investor has ties to Chinese military contractors. The information was revealed only after ProPublica went to court to obtain it.
"I am not involved with SpaceX now. Neither short nor, ahem, long," Burry wrote in a tongue-in-cheek allusion to his misgivings about the company.
The deal will help to bolster the company's efforts to compete with rivals like Anthropic and OpenAI, which also offer popular coding tools.
SpaceX is now bigger than Amazon. Its shares are more popular than every other stock on the market, combined. And it just bought an AI company for $60 billion.
The deal comes just days after SpaceX went public in the largest IPO in history, raising $75 billion to help fund its expansion.
Cursor, which started in 2022, helped spark a trend called “vibe coding” as AI coding assistants have become increasingly capable of doing the work of computer programming.
SpaceX has formally agreed to take over Cursor in a deal that values the AI coding startup at $60 billion, cementing a key part of Elon Musk’s efforts to catch up with rivals on coding tools.