Elon Musk’s SpaceX has signed a $60 billion deal with AI coding tool maker Cursor, which gives SpaceX the option to purchase the startup later this year. Per a Wednesday press release from the Space company, “SpaceXAI and CursorAI are now working closely together to create the world’s best coding and knowledge work AI.”
The deal is part of SpaceX CEO Elon Musk’s plan to transform the rocket company into an AI behemoth ahead of its upcoming IPO. Musk merged SpaceX with his xAI startup in February. Investors are keenly awaiting the launch of the SpaceX IPO, vying for a chance to explore its shares holistically. With reports of SpaceX going public soon, investors are heavily in line to explore their assets, with the firm’s pre-IPO valuations skyrocketing at a record pace. The latest deal with Cursor further pumps that bullish sentiment, with SpaceX expected to be one of the biggest IPO launches ever.
SpaceX pre-IPO shares have risen nearly 300% on Jupiter. Since SpaceX is private, its shares cannot be bought as of yet, but portals such as Jupiter offer synthetic shares as a means to evaluate SpaceX’s future rise. Synthetic shares are digital tokens mimicking the price of a real asset. These shares follow SpaceX’s valuation, dubbed at $1.70T, structured in a way that tracks the real-world price of the asset/valuation, backed by SPVs.
SpaceX reportedly intends to debut at $2T, making it the latest talk of current market momentum. Per the latest commentary by CryptosRUs, this valuation could make SpaceX more valuable than Tesla and Meta, ranking it among the largest global companies.