Tech stocks today: SpaceX to buy Cursor, as it surpasses Tesla's market cap

LIVE Tech stocks today: SpaceX to buy Cursor, as it surpasses Tesla's market cap Yahoo Finance Updated Tue, June 16, 2026 at 3:42 PM GMT+2 1 min read SpaceX announced on Tuesday that it will purchase AI coding service Cursor for $60 billion. The news comes after SpaceX’s blockbuster public debut on Friday, and as its market capitalization surpassed Tesla’s. Investors will be closely watching how SpaceX ( SPCX ) shares trade throughout this holiday-shortened week for further bullish signs .

SpaceX's IPO was the largest in history, making the rocketry and satellite company more valuable than Tesla ( TSLA ) and making Elon Musk the world's first trillionaire. It also sets the stage for two other high-profile IPOs that could come as early as this year, from the dominant AI startups OpenAI ( OPAI. PVT ) and Anthropic ( ANTH.

PVT ). Both have confidentially filed paperwork to go public, setting up a showdown between the rivals. LIVE 5 updates 14 mins ago Pras Subramanian SpaceX to buy AI coding platform Cursor for $60 billion SpaceX ( SPCX ) confirmed on Tuesday that it will acquire Anysphere, the company behind the AI coding tool Cursor, for $60 billion.

In a filing , SpaceX confirmed the deal will be an all-stock transaction, with the company expecting the merger to close during the third quarter, pending regulatory approvals. The agreement follows an option SpaceX secured in April of this year, where SpaceX obtained the right either to pay roughly $10 billion for a partnership with Cursor or to acquire the company for $60 billion later in the year. SpaceX shares were up in pre-market trade, poised for 3 straight days of gains since its IPO .

Cursor's business has scaled rapidly since its founding in 2022, with roughly $2. 6 billion in annualized revenue and enterprise sales rising, per Reuters . In April, the company had been in talks to raise new funding at a valuation of roughly $50 billion .

Read more here. Mon, June 15, 2026 at 6:37 PM UTC Daniel Howley Anthropic to meet with Trump administration over AI model dispute Just days after Anthropic ( ANTH. PVT ) launched its Mythos-class Fable 5 AI model , the US government has forced the company to take it down.

The Trump administration issued an export control directive ordering the company to suspend access to its Fable 5, as well as its Mythos 5, to any foreign national inside and outside of the US, effectively forcing it to disable the AI software. Anthropic has been forced to take its most powerful AI model offline. (Photo Illustration by Matteo Della Torre/NurPhoto via Getty Images) · NurPhoto via Getty Images A source familiar with the situation says that Anthropic’s senior technical staff are currently in Washington to meet with White House officials in person and have spoken with them virtually each day since the directive was issued.

Anthropic says the government believes it has found a way to "jailbreak" Fable 5, or trick it into performing actions it otherwise shouldn't be able to. Anthropic claims the government has only provided verbal evidence of a "potential narrow, non-universal jailbreak, which essentially consists of asking the model to read a specific codebase and fix any software flaws. " Read more here.

Mon, June 15, 2026 at 2:37 PM UTC Pras Subramanian SpaceX stock jumps for 2nd day, up over 25% since debut SpaceX ( SPCX ) stock jumped nearly 8% in early trade, giving the shares a two-day pop of over 25% since the rocket company's market debut on Friday. SpaceX had offered 555. 6 million shares to investors, raising a record $75 billion.

The appetite for SpaceX shares seems unabated, with some commentators now likening it to a momentum stock , though one that could be volatile. "SpaceX going public is an important watershed moment for the broader tech sector in our view as this AI Revolution and data takes this next step forward," Wedbush analyst Dan Ives wrote on Monday, predicting it will lead to more capital deployed at the companies and boost upcoming IPOs for Anthropic and OpenAI. Read more .

Mon, June 15, 2026 at 10:15 AM UTC Grace O'Donnell SpaceX becomes more valuable than Tesla On Friday, SpaceX ( SPCX ) stock closed at $160. 95 per share, rising more than 19% from its IPO price of $135 and valuing the company at $2. 1 trillion, according to Yahoo Finance data.

That makes Musk’s rocket, satellite, and AI company his most valuable, even more than Tesla ( TSLA ), which also rose Friday and has a market capitalization of $1. 52 trillion. SpaceX also became the world’s seventh-largest public company by market cap on Friday and the sixth-largest US public company.

Only Nvidia ( NVDA ), Alphabet ( GOOG , GOOGL ), Apple ( AAPL ), Microsoft ( MSFT ), Amazon ( AMZN ), and Taiwan Semiconductor ( TSM ) are larger. Notably, the distinction between Tesla and SpaceX may eventually become a thing of the past. A merger between the two companies is reportedly being openly discussed.

"In our view, there is a growing chance that Tesla will eventually be merged in some form into SpaceX/xAI over time,” Wedbush analyst Dan Ives wrote in a note to clients earlier this year. “The view is this growing AI ecosystem will focus on Space and Earth together ... and Musk will look to combine forces/technologies over time.

" Mon, June 15, 2026 at 10:00 AM UTC Ines Ferré This market is at 'a 10': Wall Street weighs record SpaceX IPO amid AI-driven stock market SpaceX's ( SPCX ) record IPO is a reassuring sign for Wall Street that the AI bull market may have plenty of runway to go. Earlier in the week, a pullback in technology stocks sparked concerns about the market's capacity to absorb a wave of new share issuance. Those worries intensified amid a surge of AI-related fundraising, including capital raises by Alphabet ( GOOG , GOOGL ) and anticipated IPOs from ( OPAI.

PVT ) and Anthropic ( ANTH. PVT ). Elon Musk celebrates the SpaceX IPO at Starbase, Texas.

"When you talk about absorbing it, this market has been able to absorb virtually anything," Lossdog founder and CEO Tom Sosnoff told Yahoo Finance the day SpaceX went public. "On a scale from 1 to 10, I would say it's a 10. " SpaceX stock soared nearly 20% on Friday, with retail investors playing a key role in the IPO, driven in part by enthusiasm for founder Elon Musk's vision.

"The big X factor is Elon's army of retailer support," Fortuna Investments CEO Justus Parmar told Yahoo Finance ahead of the first trade on Friday morning. Read more here.