Tuesday afternoon, Cursor CEO Michael Truell convened an all-hands meeting to make an announcement about its new partnership with SpaceX, according to a person familiar with the matter. Shortly afterwards, SpaceX followed with a carefully worded post on X, which announced that Cursor had “given SpaceX the right to acquire Cursor later this year for $60 billion or pay $10 billion for our work together.”The announcement caused a whiplash that rippled through the tech world — and was also slightly vague. But there are a few things to keep in mind, both on the specifics of this announcement and how we got here.