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SpaceX acquires Cursor AI for $60bn
SpaceX is acquiring AI coding start-up Cursor for $60 billion, shortly after its recent IPO which valued the company at over $2 trillion. The deal follows a partnership established earlier this year and aims to enhance SpaceX’s AI capabilities using Cursor's technology, which automates code writing. Despite not being profitable and posting significant losses, SpaceX's valuation reflects optimistic future earnings prospects driven by its development of rocket technology, satellite internet, and AI investments.
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