- SpaceX has signed a $60 billion deal with AI startup Cursor, with an option to purchase the company later this year.
- The deal fuels SpaceX‘s AI ambitions ahead of a planned IPO, with pre-IPO synthetic shares already surging nearly 300%.
- The company is reportedly targeting a $2 trillion debut valuation, which would rank it among the world’s largest companies.
Elon Musk‘s SpaceX announced a monumental $60 billion partnership with AI coding tool maker Cursor on Wednesday, securing an option to acquire the startup this year. This strategic move accelerates the rocket company’s transformation into a major AI player, a vision set in motion when Musk merged SpaceX with his xAI startup in February.
Consequently, the deal intensifies investor frenzy around SpaceX‘s highly anticipated public offering. Pre-IPO valuations are skyrocketing, with synthetic shares on Jupiter rising nearly 300% to mirror a staggering $1.70 trillion private valuation. These synthetic tokens act as digital proxies, tracking the real-world price of the still-private asset.
Meanwhile, SpaceX reportedly intends to debut at a $2 trillion valuation. According to the latest commentary by CryptosRUs, this could make the company more valuable than Tesla and Meta. The firm stated, “SpaceXAI and CursorAI are now working closely together to create the world’s best coding and knowledge work AI.”
However, public market investors must still wait for the official IPO launch. The upcoming listing is expected to be one of the biggest ever, with stakeholders keenly vying for a chance to explore its shares holistically. This landmark partnership with Cursor further pumps that bullish market sentiment.
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