TL;DRSpaceX’s stock has surged nearly 50% since its $135 IPO, making its $60 billion all-stock acquisition of Cursor cheaper in terms of dilution. Bill Ackman called the dynamic a core part of SpaceX’s value, as Anthropic and OpenAI race to replicate the playbook by filing for their own IPOs.
SpaceX priced its IPO at $135 a share on 12 June. Five days later, the stock has climbed nearly 50%, pushing SpaceX past Amazon to become the fifth most valuable public company in the world at roughly $2.66 trillion.
That surge is not just making shareholders richer. It is making acquisitions cheaper.
The Cursor deal
On Monday, SpaceX confirmed it would acquire Cursor, the AI coding startup, for $60 billion in an all-stock transaction. The deal, first agreed in April, gave SpaceX 30 days after its IPO to finalise the terms.
