SpaceX has agreed to acquire Cursor, the world's fastest growing software startup, for $60 billion in an all stock deal.
Who is Cursor? It is an AI-powered code editor and software development agent that acts as an "AI copilot" for programmers. Founded in 2022 by Anysphere, it features deep integrations with models like GPT-4, Claude, and xAI, allowing users to write, debug, and auto-complete code using natural language instructions Cursor has over 1 million paying customers, more than $2 billion in annualized revenue, and is projected to hit $6 billion by end of 2026. At $60 billion, this is the largest software acquisition in history, paying 20 to 30 times Cursor's current revenue. The deal is subject to regulatory approval and expected to close in Q3 2026. SpaceX now owns the rockets, the satellites, the AI models, the chips, and is about to own the tool every developer on earth uses to write code. Source: Bull Theory
The number of ETFs that held SpaceX went from 4 to 40 to now 120 in a couple days (few billion total).
These are all active ETFs choosing to buy, not indexes (they coming later). Here's a look at the list sorted by new buy, $JEPQ (the 2nd largest active ETF in world) at the top. Looks like a lot of JPM funds bought. Source: Eric Balchunas, Bloomberg
NASDAQ bounced on range lows and the 50-day moving average, only to reverse near range highs.
Massive moves, but no new direction. In a market like this, chasing breakouts has been one of the most expensive trades around. Source: TME
The World's Trillion Dollar Stock Markets
🇺🇸 U.S. — $52.6T 🇨🇳 China — $11.5T 🇯🇵 Japan — $6.5T 🇮🇳 India — $4.4T 🇫🇷 France — $3.2T 🇬🇧 UK — $3.1T 🇸🇦 KSA — $2.9T 🇨🇦 Canada — $2.6T 🇩🇪 Germany — $2.2T 🇹🇼 Taiwan — $2.0T Source: The Market Mind @Market_Mind_
Announced IPOs have surged amid a wave of AI-driven equity issuance—including record IPOs from SpaceX and expected listings by OpenAI and Anthropic.
Source: @markets The daily shot Bloomberg
2026 YTD
-EM/International Stocks > S&P 500 -Value Stocks > Growth Stocks -Small & Mid Caps > Large Caps -Mag 7 in the Red The Reversal of Everything.... Source: Charlie Bilello
SpaceX surged to $229.40 on Robinhood, pushing its market cap to over $3 trillion during overnight trading, surpassing both Amazon and Microsoft.
SpaceX is currently trading at $213.59 after hours, up +11% from its closing price. $SPCX is up +58.2% from its IPO price of $135. Source: Bull Theory
SOX is up roughly 18% since the June 9 low.
In just a few sessions, we have gone from the bottom of the range to the top, bouncing off the steep trend line despite briefly trading below the 21-day moving average. The moves have been absolutely brutal. For larger players, reshuffling big books in an environment like this is close to impossible. An 18% move in five sessions in the world's hottest theme is actually crazy when you stop and think about it. Chasing SOX after an 18% rally in five sessions feels a little late. Fading it feels dangerous. Source: TME
