In detail
- Stock rose 20% on its first full trading day prior to the further surge
- Announcement of Cursor acquisition and start of options trading pushed valuation to a peak of ~ $2.9T, closing near $2.6T
- SpaceX reported a $4.9B loss on $18.7B revenue last year
- Cursor deal expected to close in Q3; purchase funded with $60B in SpaceX shares
Why it matters
The episode highlights how investor expectations for AI businesses can massively inflate valuations and create volatility, especially when only a small float is tradable.
For you If you engage with AI partners or investors, stress‑test valuation assumptions and prepare for high share‑price volatility and limited liquidity.