SpaceX-Cursor Deal Should Concern SpaceX IPO Investors -- Market Talk

Dow Jones04-25 04:14

1613 ET - The agreement by SpaceX to buy AI coding company Cursor for up to $60 billion or pay a $10 billion fee for collaboration "should concern prospective IPO investors," said a research report published by PitchBook, a Morningstar company. "xAI continues to absorb enormous capital with no clear path to competitive parity with the leading frontier labs," the report said. Investors should ask, how much more capital will it take for xAI to become competitive with OpenAI and Anthropic, and is that capital better deployed toward SpaceX's core operations, such as its Starship commercialization and Starlink expansion. SpaceX already spent $250 billion on buying xAI, $13 billion on chips and datacenters, $17.5 billion on a debt paydown, and now committed to further spending in the Cursor deal, the report detailed. (yuliya.chernova@wsj.com)

(END) Dow Jones Newswires

April 24, 2026 16:14 ET (20:14 GMT)

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Investors should ask, how much more capital will it take for xAI to become competitive with OpenAI and Anthropic, and is that capital better deployed toward SpaceX's core operations, such as its Starship commercialization and Starlink expansion. SpaceX already spent $250 billion on buying xAI, $13 billion on chips and datacenters, $17.5 billion on a debt paydown, and now committed to further spending in the Cursor deal, the report detailed. 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Investors should ask, how much more capital will it take for xAI to become competitive with OpenAI and Anthropic, and is that capital better deployed toward SpaceX's core operations, such as its Starship commercialization and Starlink expansion. SpaceX already spent $250 billion on buying xAI, $13 billion on chips and datacenters, $17.5 billion on a debt paydown, and now committed to further spending in the Cursor deal, the report detailed. 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