SpaceX raises $75–86B in record IPO, buys Cursor for $60B

What happened

Space Exploration Technologies completed its IPO in mid-June 2026, raising roughly $75–86 billion, and secured rapid inclusion in major Nasdaq indexes. The company simultaneously agreed to acquire Cursor, an AI coding platform, in an all-stock deal valued at $60 billion（約9.6兆円）. Google and Anthropic have signed multiyear GPU and data-center contracts worth tens of billions of dollars annually with SpaceX.

Why it matters

Investors must weigh whether SpaceX can transform a $19.3 billion（約3.1兆円） loss-making rockets-and-Starlink business into a profitable AI and infrastructure platform while growing revenue much faster than the market. The record IPO, rapid index inclusion, and Cursor deal have already sharpened concerns about share dilution, capital intensity, and execution risk across very different businesses. Fair value estimates from the Simply Wall St Community span roughly $8 to just above $191, reflecting how far investor opinions stretch.

What to watch

The near-term catalysts are the first few earnings reports as a public company, progress on AI data centers and Starlink adoption, and how the share price reacts as large lock-up expiries start to add supply. One emerging risk is how quickly heavy AI spending and upcoming insider unlocks could collide.