SpaceX Used Four-Day-Old Stock to Buy Cursor for $60 Billion After Grok Flopped at Coding

Elon Musk’s rocket company went public, watched its stock balloon, and four days later spent $60 billion of that brand-new paper buying an AI coding tool it could not build itself. SpaceX agreed to acquire Cursor in a $60 billion stock deal days after its historic IPO, meant to help its AI division built around xAI catch up to the major labs. The reason is plain in the receipts: the AI division has been restructuring after repeated controversies, like allowing users to generate non-consensual deepfakes of women and children. When your own Grok flops at coding, you print money and buy somebody else’s. TechCrunch on the Cursor deal