SpaceX agreed to buy AI coding startup Cursor for $60 billion in stock, marking a 3.4% dilution to its recent IPO valuation. The deal, set to close in Q3 pending regulatory approval, aims to boost SpaceX’s AI push against rivals like Anthropic and OpenAI despite Cursor’s recent market-share decline and undisclosed financial details.

• SpaceX is acquiring Cursor for $60 billion in stock, only 3.4% dilution given SpaceX's massive post-IPO valuation
• Cursor's market share has fallen from 41% to 26% since mid-2025 while Anthropic now controls roughly half the market
• Deal includes a steep breakup fee: $1.5 billion cash plus $8.5 billion in computing resources if it collapses
• Move follows SpaceX's xAI merger, signaling a broader push to compete directly with OpenAI and Anthropic in AI

This daily digest covers SpaceX’s $60 billion stock deal to buy AI coding startup Cursor, Apple’s plan for camera-equipped AirPods and a foldable iPhone in 2027, and Genesis AI’s new industrial robot with LG. It also highlights Snap’s $2,195 AR glasses, AWS’s S3 annotations feature, Meta’s crumbling engineering culture, Anthropic’s talks with Trump officials, and leaked OpenAI finances showing huge losses.

• SpaceX is buying AI coding startup Cursor for $60 billion in stock, expected to close Q3
• OpenAI's leaked financials show revenue nearly quadrupled to $13.07B in 2025, but losses grew from $4.1B to $6.11B as expenses more than doubled
• Apple is reportedly developing camera-equipped AirPods, a foldable iPhone, and a 20th-anniversary model, all targeting late 2027
• Anthropic is negotiating with Trump administration officials over access restrictions after a security bypass was discovered in its latest models