SpaceX Soars On Third Trading Day, Seals Cursor Takeover

**SPEAKER_2** (0:02)
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**Ed Ludlow** (0:22)
This is Bloomberg Tech coming up. SpaceX continues to rocket, eclipsing Amazon in value. This is it lands its $60 billion takeover of Cursor. Plus, Anthropic meets with US officials to resolve a national security dispute with the Trump administration over its most advanced AI models. And Sequoia partner, SpaceX investor and AI thinker, Shaun Maguire, on set in San Francisco to go deep on the Cursor deal and orbital data centers. Tuesday, June 16th, 2026, SpaceX, its third day of trading in the public markets and it continues to soar. It's all about valuation in the here and now. We are currently on track for SpaceX to eclipse Amazon in market value. It's been a volatile session, one point the stock up 17% and in just a brief moment, eclipse Microsoft in terms of its market value.
In the moment indeed. But here's the thing, when you think about SpaceX's relative value to Microsoft or Amazon, there's a catalyst in the news cycle. And that is, it will move forward with a $60 billion deal for Cursor in the AI coding space. Let's get the details on that deal with Bloomberg's Natasha Mascarenes who covers AI and venture and is here with us in SF. Let's start with the details, the structure.
There's also the idea that in April, they had the right to acquire Cursor, just days after going public. They are.

**Natasha Mascarenes** (1:48)
Exactly. I mean, in April, we saw a first of its kind announcement, an agreement to have the option to acquire. Now we have the news that they are moving ahead with the agreement and they will plan to acquire Cursor. It's going to be for that price tag that we expected, a $60 billion implied valuation and the Cursor investors will be getting stock as a result of it.

**Ed Ludlow** (2:10)
SpaceX stock.

**Natasha Mascarenes** (2:10)
Sorry, SpaceX stock as a result of it. Exactly.

**Ed Ludlow** (2:13)
So there's a big question here about like, well, who wins on the Cursor side?
Cursor has been active in raising money in recent years. They had a lot of momentum. You have a pretty good understanding of who's on the cap table there.

**Natasha Mascarenes** (2:26)
Yeah. I mean, this has been one of the most explosive AI companies outside of OpenA and Anthropic. If you ask me, this is the number one other company I've been focused on for the past year. We think about the biggest winners from this deal when the deal does close, which is expecting in a few months. It's actually some of the same investors for SpaceX, unsurprisingly. Two of the biggest investors in Cursor are Thrive Capital and Andreessen Horowitz.
Last week, we heard them celebrate as well when it came to the SpaceX IPO.
Thrive is expected to have a stake worth north of 10 billion, according to sources when we think about the SpaceX and Cursor combination. Andreessen, heading into this, had about 6 billion worth of stake in Cursor. So another kind of victory for them.

**Ed Ludlow** (3:11)
We had already reported that for Andreessen on the SpaceX IPO, this would be the biggest payoff in the firm's history. Let's go to the AI bit of it. I think Elon Musk has been pretty honest that in the coding space, XAI had been behind your Anthropics, your Open AI's even. What is SpaceX doing with Cursor? What's the plan here?

**Natasha Mascarenes** (3:30)
Yeah. People forget that SpaceX actually merging with XAI is still a recent move. Yeah. I mean, the ink is still drying on that one. But yeah, I mean, listen, it's the same goal. Elon wants to strengthen their AI talent. Cursor, I mean, when I was first writing about Cursor, they were bringing on people to their office for two weeks before they made an acquisition, before they made a hiring offer. And so they really spent a huge amount of time in recruiting the best AI talent in San Francisco, building a very unique kind of culture. And now Elon Musk is getting that highly vetted talent as he looks to make SpaceX an AI company. And so there's a lot of interest in the talent. We'll see if all people do come on as a result of the acquisition.
But it's hundreds of employees joining the SpaceX team.

**Ed Ludlow** (4:18)
And even before SpaceX XAI closed, there was high turnover at XAI. They had people departing from the founding group, etc. Bloom is Natasha Mescaranis on the Cursor deal. Let's get more on SpaceX's surging valuation in the public markets. Bloomberg Equities reporter Carmen Reineke joins us with the latest. Right now on Track to Eclipse, Amazon. You and I have been talking all morning about price to sales ratios. And then there's the volatility in the session itself. Explain it all.