00:00Is this something that we should have expected with SpaceX?
00:03You get a rally in share prices that, yeah, why not go out and buy Cursor thanks to having that
00:07in your hand?
00:08Well, the timing of the confirmation, you know, post-trade day three is surprising, but not the concept, right?
00:17They, in April, announced they had the right to buy Cursor.
00:20The terms are exactly the same.
00:21They just waited until the IPO was completed because it would have made a material change to the prospectus,
00:29which would have slowed them down a little bit had they had tried to force it through prior to listing.
00:33I think it's as simple as that.
00:34So it's $60 billion where existing Cursor investors receive SpaceX shares at that value.
00:40But the valuation is the big point.
00:42I think you've nailed that, Danny, right?
00:44Bill Ackman's on X literally right now in the last few minutes talking about the value of SpaceX as its
00:48value.
00:49When you are able to make financial moves like this, all stock deal, it allows you to move quickly.
00:56But there has been a concession from Elon Musk and the company that XAI has been behind encoding,
01:03behind Anthropic and OpenAI, and this will very quickly put them back in the game.
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