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00:02SpaceX acquired autonomous coding agent Cursor in an $86 billion deal as the company works to
00:09close an AI gap with rivals, according to the Wall Street Journal. The all-stock purchase
00:15values Cursor at more than double its $29.3 billion valuation from a November funding round.
00:22Cursor, whose tools are used by NVIDIA, British Airways, and Deloitte,
00:26grew annualized revenue from $100 million in 2025 to $4 billion by early June,
00:32with more than half coming from enterprise customers.
00:34SpaceX earlier acquired Musk-controlled XAI, bringing in the Grok chatbot and large data centers.
00:41Last year, SpaceX's AI business generated $3.2 billion in revenue against $6.4 billion in losses.
00:49Musk ranked XAI fifth among the top AI companies, behind Anthropic, OpenAI, Google,
00:55and Chinese open source models.
00:57For all things money, visit Benzinga.com.
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