SpaceX (SPCX) Stock Dips Despite Closing $60 Billion Cursor Acquisition

TLDR

• SpaceX completed its $60 billion acquisition of Cursor, an AI software development platform, ahead of schedule
• SPCX stock fell 2% in premarket trading to $143.26 after the deal closed on August 14
• Deutsche Bank’s Edison Yu raised his 2027 revenue forecast for SpaceX from $97 billion to $115 billion
• The deal gives SpaceX a vertically integrated AI stack: data centers, Grok models, and now Cursor applications
• Wall Street holds a Moderate Buy consensus on SPCX with an average price target of $232.35

SpaceX stock slipped about 2% in premarket trading Tuesday to $143.26 after the company confirmed it had closed its $60 billion purchase of Cursor ahead of schedule.

Space Exploration Technologies Corp., SPCX

The stock had rallied 4.5% on Monday, partly on news that the deal had finalized on August 14, earlier than most analysts expected.

Cursor is an AI-powered software development tool. Users can describe what they want in plain language and Cursor builds it, iterating through natural language commands.

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