SpaceX Joins Nasdaq-100 Following $60 Billion Cursor Acquisition

Space Exploration Technologies Corp. joined the Nasdaq-100 index on July 7 via a fast-entry rule for large listings, a move J.P. Morgan estimates could trigger $4.3 billion in passive buying. This follows a record-breaking initial public offering on June 12, 2026, and a series of aggressive expansions into artificial intelligence.

On June 16, the company acquired Anysphere, the parent company of AI coding specialist Cursor, for $60 billion to compete with rivals like Anthropic. To fund this infrastructure push, SpaceX issued $25 billion in its first bond offering on June 22. The company is also developing a neocloud business, highlighted by a $30 billion deal through 2029 with Alphabet Inc. for Gemini AI data center capacity and a $15 billion annual agreement with Anthropic for the Colossus 1 data center.

While SpaceX aims to reduce Starship marginal launch costs by 90% compared to Falcon rockets, Starlink remains the only profitable segment with 12 million subscribers. This activity mirrors a wider trend of massive AI capital expenditures, including Alphabet's $84.75 billion equity raise and Salesforce's $3.6 billion acquisition of Fin. Meanwhile, Anthropic has confidentially filed for an IPO with a valuation approaching $1 trillion.