Acquisitions can tell you a lot about where a company thinks its next big opportunity lies. Sometimes they are about buying technology, sometimes talent, and sometimes they are about putting two businesses together before the market even realizes how well they fit. Elon Musk's ******* eX (SPCH) latest deal looks like a little bit of all three.
The Elon Musk-led aerospace and satellite communications company has officially closed its $60 billion acquisition of Anysphere, the software company behind the AI coding platform Cursor. The deal became effective on Aug. 14, according to a filing with the U.S. Securities and Exchange Commission. Under the agreement, Cursor shareholders received an aggregate of 389.29 million shares of ******* eX, based on an implied $60 billion equity value and ******* eX's volume-weighted average closing price over the seven trading days before the deal closed.
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