Space Exploration Technologies Corp.‘s SPCX $60 billion acquisition of AI coding startup Cursor has ignited a fierce Wall Street debate, drawing high-profile reactions from billionaire investor Bill Ackman and venture capitalist Chamath Palihapitiya on why the market will pay “massive premiums” for dominant AI software.

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 will acquire AI coding platform Cursor in an all-stock deal worth $60 billion, the company said in a filing Tuesday. The deal comes after SpaceX initially partnered with Cu

AI coding startup Cursor plans to open its European headquarters in London and hire 200 staff, as SpaceX considers a potential acquisition. The move targets increasing demand for software automation tools across Europe,

SpaceX soared past Amazon's $2.66 trillion market capitalization on Tuesday as its momentum continued in the wake of its record-setting IPO on the Nasdaq last week.

Technically, SpaceX had 30 days following its record-shattering public debut to decide on a $60 billion takeover of the AI coding startup Cursor. In the end, all it took was two trading days.