SpaceX raised roughly $75–86 billion in the largest IPO on record and agreed to acquire AI coding platform Cursor for $60 billion（約9.6兆円）, marking a major shift toward AI infrastructure alongside its core launch and satellite business.

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.