SPCX•SPCX•SpaceX’s historic IPO raised $85.7 billion, vaulting it past Microsoft and Amazon to become the world’s most valuable publicly traded company. The company agreed to acquire AI coding startup Cursor in a $60 billion all-stock transaction, while options trading surged with 500,000 contracts in one hour, sparking gamma squeeze predictions.
SpaceX completed the largest IPO in history, raising $85.7 billion and surpassing Microsoft and Amazon to become the world’s most valuable publicly traded company. Shares opened above $200 and reached a peak of $210, reflecting strong investor demand and confidence in the company’s growth prospects.
On June 16, SpaceX exercised its option to acquire AI coding startup Cursor in an all-stock merger valued at $60 billion, marking its first major entry into enterprise developer tools. The transaction, structured through subsidiary X67, is expected to close in Q3 and includes a $10 billion breakup fee and $4 billion antitrust termination fee.
In the first trading day post-IPO, SpaceX saw 500,000 option contracts exchanged in the opening hour, prompting analysts to predict a potential gamma squeeze driving the share price toward $400. Extreme conditions such as a 3–5% tradable float and forced index buying of $22–27 billion have fueled volatility and heightened speculation.
The acquisition strengthens SpaceX’s position against rivals like Microsoft, Google and Anthropic by integrating Cursor’s $4 billion annualized recurring revenue and access to Colossus supercluster compute resources. However, the $4 billion antitrust termination fee underscores potential regulatory scrutiny over the concentration of AI infrastructure and services under a single entity.
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