News & Updates
The latest news and updates from companies in the WLTH portfolio.
SpaceX Has Deal for Right to Acquire Cursor for $60 Billion
(Bloomberg) -- SpaceX said it has an agreement giving it the right to acquire artificial intelligence startup Cursor for $60 billion later this year or to pay $10 billion for the companies' work together, part of the Elon Musk-run firm's efforts to catch up with rivals in AI coding tools. Most Read from Bloomberg Musk's rocket, satellite and artificial intelligence giant announced the deal in a post on X, saying the two companies are "now working closely together to create the world's best coding and knowledge work AI." SpaceX recently merged with xAI, Musk's artificial intelligence company, which competes with Anthropic and OpenAI in creating generative AI tools for consumers and businesses. The deal comes shortly after Musk said that xAI is behind on software coding tools compared with peers and vowed to rebuild the company from the ground up. In March, he ordered a round of layoffs. He's also been seeking engineering talent, and has previously hired from Cursor. SpaceX isn't acquiring Cursor immediately because of the rocket company's imminent initial public offering, according to a person familiar with the matter, who asked not to be identified discussing nonpublic information. A major transaction would require the company to update its filings and financial details, potentially delaying the IPO, which is targeting a $2 trillion valuation. The $10 billion is a breakup fee if the deal doesn't go through, according to people with knowledge of the deal. SpaceX and xAI didn't immediately respond to a request for comment. Cursor had been in talks with investors to raise about $2 billion in a funding round with a valuation of more than $50 billion, not including the investment, Bloomberg reported last week. The company is no longer proceeding with the round, because the capital was set to fund Cursor's computing needs -- which are now being handled by xAI -- according to a person familiar with the matter. Cursor's AI assistant, launched in 2023, helps programmers write and debug code more efficiently. It's become one of the fastest-growing startups of all time and a central player in tech's "vibe coding" era, as demand surges among software developers for tools that can build based on prompts to a chatbot. But coding with AI requires a lot of computing resources -- something SpaceX has plenty of, with its massive data centers in Tennessee and Mississippi. The SpaceX team "has an enormous amount of compute and we think together we can scale up our model efforts and we're really excited about it," Cursor president Oskar Schulz said. "We really like their team."
SpaceX Cursor Deal: Elon Musk Targets $60 Billion AI Takeover To Lead The Future Of Coding
SpaceX has entered a significant agreement with AI coding startup Cursor, featuring a $60 billion takeover option or a $10 billion joint investment. This move aligns with Elon Musk's strategy to transform SpaceX into an AI-driven software powerhouse. The partnership aims to enhance internal coding capabilities and strengthen SpaceX's valuation ahead of a potential public listing. SpaceX is deepening its push into artificial intelligence, striking a huge option deal with Cursor, an AI coding startup, that could lead to a $60 billion takeover or a $10 billion joint investment, reinforcing Elon Musk's plans to centre SpaceX around AI-driven software ahead of a stock market listing. The agreement gives SpaceX a direct route into one of the most widely used AI coding assistants, while also signalling to public market investors that Musk wants SpaceX to be viewed as a major AI player, not just a private spaceflight company, at a time when demand for advanced software tools is soaring. SpaceX Cursor deal reshapes Musk's wider AI ambitions The SpaceX Cursor deal follows Musk's admission that xAI, the artificial intelligence firm folded into SpaceX in February, trails rivals on coding tasks, a gap that led to job cuts at xAI and a fast hiring drive that included recruiting Cursor engineers Andrew Milich and Jason Ginsberg, highlighting how central coding performance has become to Musk's AI plans. SpaceX is already in the middle of a broader restructuring into an AI-centred group, after Musk combined SpaceX with xAI in a transaction Musk valued at $1.25 trillion, a figure later reported by the New York Times, and then used xAI to absorb social network X, formerly Twitter, through an all-stock deal announced in March 2025. SpaceX Cursor deal: terms, options and official statements Under the SpaceX Cursor deal, SpaceX may either exercise an option to buy Cursor at a $60 billion valuation later this year or instead put $10 billion into shared research and product development, an arrangement the companies describe plainly: "SpaceXAI and @cursor_ai are now working closely together to create the world's best coding and knowledge work AI." Cursor chief executive Michael Truell confirmed the new relationship on X, stating that he is "excited to partner with the SpaceX team to scale up Composer" and calling it "A meaningful step on our path to build the best place to code with AI," a direct reference to Cursor's in-house AI model Composer and its role within the company's roadmap. SpaceX Cursor deal taps 'vibe coding' momentum Cursor's flagship product, an AI assistant launched in 2023, helps developers write, test and debug code across large projects, making it a key tool in the so-called "vibe coding" style, a term many in the technology sector now use for workflows where software engineers lean heavily on AI support throughout the development cycle. By plugging into Cursor's established user base and technology, SpaceX gains access to a system already trusted by many programmers, allowing SpaceX to improve its internal software pipelines and strengthen xAI's technical stack while also positioning Cursor at the centre of a trend where coding relies more on AI suggestion and less on line-by-line manual work. SpaceX Cursor deal and Cursor's rise in AI coding The SpaceX Cursor deal lands as Cursor is enjoying rapid growth; the company, founded in 2023, has quickly become one of the fastest-expanding names in the AI ecosystem, helped by demand from engineering teams that want tools improving productivity and accuracy when writing, debugging and refining code for complex applications and large codebases. Cursor president Oskar Schulz described the attraction of the partnership from Cursor's side, saying: "The SpaceX team has an enormous amount of compute, and we think together we can scale up our model efforts, and we're really excited about it. We really like their team," highlighting the importance of SpaceX's computing infrastructure for Cursor's plans. SpaceX Cursor deal and funding expectations for the startup Before announcing the SpaceX Cursor deal, Cursor had been in late-stage talks to raise about $2 billion in new financing at a valuation above $50 billion, with Andreessen Horowitz expected to co-lead the round and Nvidia and Thrive Capital also set to join, an investor group notable because Andreessen Horowitz and Nvidia already back xAI. The proposed funding round, if completed alongside or after SpaceX's involvement, would show how aggressively investors value AI tools that boost developer productivity, and might also shape negotiations around whether SpaceX chooses to exercise its $60 billion purchase option or opt for the $10 billion collaboration path instead. SpaceX Cursor deal amid legal clash with OpenAI The timing of the SpaceX Cursor deal is significant because it arrives less than a week before Musk is scheduled to appear in a Northern California court for a prominent legal dispute with OpenAI chief executive Sam Altman, whose company was one of Cursor's earliest investors, adding another layer of rivalry to Musk's moves in the AI field. With that court case approaching and competition between AI players intensifying, the Cursor arrangement signals that SpaceX aims to shape the direction of AI development rather than act as a follower, especially in high-value areas like coding tools where early investor relationships, such as OpenAI's stake in Cursor, now intersect with Musk's new alliances. SpaceX Cursor deal and possible IPO valuation impact The SpaceX Cursor deal also feeds into expectations around a future SpaceX public share sale, as stronger AI capabilities could help SpaceX argue for a higher valuation from investors seeking exposure to the next stage of AI growth, while also indicating that the AI market is moving from small feature launches towards large consolidation plays and multi-billion-dollar tie-ups. Should SpaceX go ahead and buy Cursor outright, the $60 billion transaction would sit among the biggest deals in AI so far, which analysts see as a sign that large technology firms now view control over leading AI coding systems as a strategic necessity, especially when preparing for an initial public offering that will be closely watched worldwide. Author profile: Sayantani Biswas on the SpaceX Cursor deal The article on the SpaceX Cursor deal is written by Sayantani Biswas, an assistant editor at Livemint, who has seven years of experience reporting on geopolitics, foreign policy, international relations and global power shifts, and now covers both Indian and international politics, including elections in multiple countries, with a focus on historically informed analysis. Biswas joined Mint in 2021 after working on political coverage for outlets including The Telegraph, and holds an MPhil in Comparative Literature from Jadavpur University, obtained in 2019, where the research focused on postcolonial Latin American literature and studied economic nationalism through Eduardo Galeano's Open Veins of Latin America. Growing up in Durgapur, an industrial city in West Bengal shaped by migration around the Durgapur Steel Plant, Biswas spent childhood years listening carefully to grandparents describe fear, hardship and displacement while fleeing Bangladesh during the 1947 Partition, experiences that later combined with literary training to support analysis of social and economic structures and their lasting effects. Beyond daily reporting on topics such as the SpaceX Cursor deal, Biswas reads widely in cultural history and critical theory, returning often to texts like Paulo Freire's Pedagogy of the Oppressed, and approaches journalism with a stress on accuracy, rigour and fairness, arguing that political coverage requires speed and clarity as well as historical context, precise framing and a measured resistance to spectacle. The SpaceX Cursor deal therefore sits at the intersection of Musk's restructuring of his companies around AI, Cursor's rapid ascent in the "vibe coding" space, intense investor interest in developer tools, and a legal confrontation with OpenAI leadership, together illustrating how AI coding platforms, financial markets and corporate strategy are becoming tightly bound.
Anthropic's Mythos AI reportedly accessed by outsiders days after launch -- here's what happened
A powerful artificial intelligence tool designed to strengthen cybersecurity is now at the centre of an unsettling twist. Anthropic's recently unveiled Claude Mythos model, built to detect and even simulate cyber vulnerabilities, has reportedly been accessed by an unauthorised group, raising fresh questions about how securely such high-stakes systems are being handled. The irony is hard to miss. Claude Mythos was created with the explicit goal of helping organisations anticipate and defend against cyberattacks. Yet, within days of its limited release, individuals outside its intended circle appear to have found a way in, highlighting the very risks the tool is meant to address. What happened According to Bloomberg report, the group gained entry to Mythos through a third-party vendor environment rather than directly breaching Anthropic's internal systems. The company has acknowledged the situation, stating it is investigating claims of unauthorised access but has, so far, found no evidence that its own infrastructure has been compromised, reports TechCrunch. The individuals involved are said to be part of a private online community that tracks and experiments with unreleased AI models. Members reportedly used a combination of technical guesswork and insider-level access linked to a contractor associated with Anthropic to locate and interact with the system. One striking detail is the speed. The group is believed to have accessed Mythos on the very day it was publicly announced. Their approach reportedly involved predicting where the model might be hosted, based on patterns from previous Anthropic releases. Evidence shared, as described by the TechCrunch, included screenshots and even a live demonstration of the tool in use, suggesting that access was not only possible but sustained over a period of time. Despite this, sources linked to the group have claimed their intentions were exploratory rather than malicious, describing their activities as "playing around" with new technology rather than attempting to exploit it. Why this matters for AI security The episode underscores a deeper challenge facing the AI industry: controlling access to increasingly powerful systems. Mythos was never meant for broad public use. Instead, it was rolled out selectively through an initiative called Project Glasswing, which involves trusted partners such as Apple, Google and other major organisations. This restricted approach was designed precisely to avoid scenarios like this. Anthropic has previously warned that tools like Mythos, while useful for identifying vulnerabilities, could be repurposed as offensive instruments in the wrong hands. That risk now feels less theoretical. Even if the current group has not acted maliciously, the incident demonstrates how quickly safeguards can be tested once a system exists outside tightly controlled environments. It also highlights a broader tension in AI development. Companies are under pressure to innovate rapidly and showcase cutting-edge capabilities, particularly in competitive areas like cybersecurity. At the same time, each new release expands the potential attack surface, especially when third-party vendors and external collaborators are involved. Anthropic's response so far has been measured, focusing on investigation rather than alarm. But the situation serves as a reminder that in the race to build smarter, more capable AI, security is not just a feature, it is a constant, evolving challenge. As AI tools grow more sophisticated, the question is no longer just what they can do, but who gets to use them, and how tightly that access can be controlled.
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Anthropic: $5 Billion Investment From Amazon Expands Strategic AI Infrastructure Partnership
Amazon announced an expanded strategic collaboration with Anthropic, including a $5 billion investment and the potential to invest up to an additional $20 billion tied to future milestones, as the companies deepen their push into large-scale AI infrastructure. As part of the agreement, Anthropic will commit to spending more than $100 billion over the next decade on Amazon Web Services technologies, including current and future generations of Amazon's custom Trainium chips and Graviton processors. The deal also secures up to 5 gigawatts of compute capacity to train and power Anthropic's advanced AI models, significantly expanding the scale at which the company can operate. The collaboration builds on a relationship that began in 2023 and has since grown to support more than 100,000 customers running Anthropic's Claude models on AWS. The companies are also continuing work on Project Rainier, one of the largest AI compute clusters globally, which is being used to train and deploy next-generation AI systems. Anthropic's Claude platform will now be fully integrated within AWS, allowing customers to access its native development environment directly through their existing AWS accounts. This approach simplifies deployment and management while enabling enterprises to leverage existing security and monitoring tools. The expanded partnership also includes global infrastructure growth, with increased inference capabilities planned across Asia and Europe to support rising international demand for AI services. Amazon's custom silicon strategy plays a central role in the collaboration, with Anthropic using Trainium chips to build, train, and deploy its models. The companies are also working closely on future chip development, with Anthropic providing feedback from real-world AI workloads to help shape next-generation hardware. The deal underscores the intensifying competition among major technology players to secure AI infrastructure, talent, and long-term compute capacity, as demand for generative AI continues to accelerate across industries. KEY QUOTES "Our custom AI silicon offers high performance at significantly lower cost for customers, which is why it's in such hot demand. Anthropic's commitment to run its large language models on AWS Trainium for the next decade reflects the progress we've made together on custom silicon, as we continue delivering the technology and infrastructure our customers need to build with generative AI." Andy Jassy, CEO, Amazon "Our users tell us Claude is increasingly essential to how they work, and we need to build the infrastructure to keep pace with rapidly growing demand. Our collaboration with Amazon will allow us to continue advancing AI research while delivering Claude to our customers, including the more than 100,000 building on AWS." Dario Amodei, CEO and Co-Founder, Anthropic
This week at SpaceX: AI bets, losses and push for control as mega IPO looms
April 21 (Reuters) - Elon Musk's SpaceX saw a slew of developments this week as it barrels toward what could be the largest initial public offering in history. The rocket and satellite company disclosed an option to acquire AI coding startup Cursor for $60 billion, outlined plans that would entrench permanent voting control for founder Musk, and is kicking off a three-day Wall Street analyst roadshow aimed at defending a $1.75 trillion valuation. SpaceX is targeting a late-June market IPO with a $75 billion capital raising, even as excerpts from its confidential IPO filing show the company swung to a multi-billion-dollar loss in 2025, driven by heavy spending on artificial intelligence. Here are some major developments: * Cursor deal: SpaceX announced on Tuesday it has been granted the option to either acquire code-generation startup Cursor for $60 billion later this year, or pay $10 billion for a partnership. * Voting control: Reuters reported on Monday that SpaceX plans to hand Musk and some insiders super-voting shares that will outweigh other investors after the IPO. * Financials: SpaceX swung to a $4.94 billion consolidated loss in 2025 on revenue of $18.67 billion. SpaceX and xAI, which merged earlier this year, ended 2025 with about $24.8 billion in cash on hand, assets of $92 billion, and liabilities of $50.8 billion. Capex increased almost five-fold over two years to $20.74 billion. * Analyst roadshows: SpaceX is kicking off a three-day Wall Street analyst roadshow this week to justify the $1.75 trillion valuation it is seeking in its IPO. * Warnings to investors: SpaceX has warned investors that its ambitions to build space-based AI data centers, as well as human settlements on the moon and Mars, rely on unproven technologies and may not become commercially viable, Reuters reported on Tuesday. * Musk, executives' pay: Musk was paid $54,080 last year but stands to gain billions in equity after the IPO. The Information reported that Musk bought $1.4 billion of stock from employees last year. Reuters reported that SpaceX President Gwynne Shotwell earned $85.8 million in total compensation last year, placing her among the highest-paid U.S. executives. CFO Bret Johnsen earned $9.8 million. * Index rejigs: The mega IPO has also driven index providers to consider revising their approach to designing market indexes, with Morningstar Inc saying its CRSP Market Indexes will add an "alternative liquidity screen", making it possible to add SpaceX and other giant IPOs to the benchmarks more rapidly. * Retail push: Musk plans to allocate about 30% of shares to retail investors. Around 1,500 retail investors have been invited to tour its Starbase launch facilities in Texas, after the roadshow begins in the week of June 8. International retail access will be extended to the UK, the European Union, Australia, Canada, Japan, and South Korea. (Reporting by Fabiola Arámburo and Mrinmay Dey in Mexico City; Editing by Muralikumar Anantharaman)
This week at SpaceX: AI bets, losses and push for control as mega
SpaceX this week struck a major AI partnership with Cursor -- an option to acquire the $50-60 billion coding startup or pay $10 billion for collaboration -- and revealed heavy 2025 AI‑driven losses while launching a Wall Street roadshow ahead of a potential late‑June IPO. SpaceX Mega IPO: AI Bets, Losses, and Retail Investor Push as $1.75T Valuation Looms Key Developments Ahead of the SpaceX IPO April 21 (Reuters) - Elon Musk's SpaceX saw a slew of developments this week as it barrels toward what could be the largest initial public offering in history. The rocket and satellite company disclosed an option to acquire AI coding startup Cursor for $60 billion, outlined plans that would entrench permanent voting control for founder Musk, and is kicking off a three-day Wall Street analyst roadshow aimed at defending a $1.75 trillion valuation. SpaceX is targeting a late-June market IPO with a $75 billion capital raising, even as excerpts from its confidential IPO filing show the company swung to a multi-billion-dollar loss in 2025, driven by heavy spending on artificial intelligence. Major Developments Here are some major developments: AI and Technology Initiatives * Cursor deal: SpaceX announced on Tuesday it has been granted the option to either acquire code-generation startup Cursor for $60 billion later this year, or pay $10 billion for a partnership. AI Data Centers and Space Ambitions * Warnings to investors: SpaceX has warned investors that its ambitions to build space-based AI data centers, as well as human settlements on the moon and Mars, rely on unproven technologies and may not become commercially viable, Reuters reported on Tuesday. Corporate Governance and Voting Control * Voting control: Reuters reported on Monday that SpaceX plans to hand Musk and some insiders super-voting shares that will outweigh other investors after the IPO. Financial Performance and Capital Expenditure * Financials: SpaceX swung to a $4.94 billion consolidated loss in 2025 on revenue of $18.67 billion. SpaceX and xAI, which merged earlier this year, ended 2025 with about $24.8 billion in cash on hand, assets of $92 billion, and liabilities of $50.8 billion. Capex increased almost five-fold over two years to $20.74 billion. IPO Roadshow and Valuation Defense * Analyst roadshows: SpaceX is kicking off a three-day Wall Street analyst roadshow this week to justify the $1.75 trillion valuation it is seeking in its IPO. Executive Compensation * Musk, executives' pay: Musk was paid $54,080 last year but stands to gain billions in equity after the IPO. The Information reported that Musk bought $1.4 billion of stock from employees last year. Reuters reported that SpaceX President Gwynne Shotwell earned $85.8 million in total compensation last year, placing her among the highest-paid U.S. executives. CFO Bret Johnsen earned $9.8 million. Market Index Changes * Index rejigs: The mega IPO has also driven index providers to consider revising their approach to designing market indexes, with Morningstar Inc saying its CRSP Market Indexes will add an "alternative liquidity screen", making it possible to add SpaceX and other giant IPOs to the benchmarks more rapidly. Retail Investor Participation * Retail push: Musk plans to allocate about 30% of shares to retail investors. Around 1,500 retail investors have been invited to tour its Starbase launch facilities in Texas, after the roadshow begins in the week of June 8. International retail access will be extended to the UK, the European Union, Australia, Canada, Japan, and South Korea. (Reporting by Fabiola Arámburo and Mrinmay Dey in Mexico City; Editing by Muralikumar Anantharaman)
Anthropic's Mythos model accessed by unauthorized users, Bloomberg News reports
A handful of users in a private online forum reportedly gained access to Mythos on the same day that Anthropic first announced a plan to release the model to a limited number of companies for testing purposes A small group of unauthorized users has accessed Anthropic's new Mythos AI model, Bloomberg News reported on Tuesday, April 21, citing documentation and a person familiar with the matter. A handful of users in a private online forum gained access to Mythos on the same day that Anthropic first announced a plan to release the model to a limited number of companies for testing purposes, the report said. The group has been using Mythos regularly since then, though not for cybersecurity purposes, according to the report. "We're investigating a report claiming unauthorized access to Claude Mythos Preview through one of our third-party vendor environments," an Anthropic spokesperson said. Announced on April 7, Mythos is being deployed as part of Anthropic's "Project Glasswing," a controlled initiative under which select organizations are permitted to use the unreleased Claude Mythos Preview model for defensive cybersecurity. Mythos is a powerful AI model that has sparked concerns among regulators about its unprecedented ability to identify digital security vulnerabilities and potential for misuse. - Rappler.com
This week at SpaceX: AI bets, losses and push for control as mega IPO looms
April 21 (Reuters) - Elon Musk's SpaceX saw a slew of developments this week as it barrels toward what could be the largest initial public offering in history. The rocket and satellite company disclosed an option to acquire AI coding startup Cursor for $60 billion, outlined plans that would entrench permanent voting control for founder Musk, and is kicking off a three-day Wall Street analyst roadshow aimed at defending a $1.75 trillion valuation. SpaceX is targeting a late-June market IPO with a $75 billion capital raising, even as excerpts from its confidential IPO filing show the company swung to a multi-billion-dollar loss in 2025, driven by heavy spending on artificial intelligence. Here are some major developments: * Cursor deal: SpaceX announced on Tuesday it has been granted the option to either acquire code-generation startup Cursor for $60 billion later this year, or pay $10 billion for a partnership. * Voting control: Reuters reported on Monday that SpaceX plans to hand Musk and some insiders super-voting shares that will outweigh other investors after the IPO. * Financials: SpaceX swung to a $4.94 billion consolidated loss in 2025 on revenue of $18.67 billion. SpaceX and xAI, which merged earlier this year, ended 2025 with about $24.8 billion in cash on hand, assets of $92 billion, and liabilities of $50.8 billion. Capex increased almost five-fold over two years to $20.74 billion. * Analyst roadshows: SpaceX is kicking off a three-day Wall Street analyst roadshow this week to justify the $1.75 trillion valuation it is seeking in its IPO. * Warnings to investors: SpaceX has warned investors that its ambitions to build space-based AI data centers, as well as human settlements on the moon and Mars, rely on unproven technologies and may not become commercially viable, Reuters reported on Tuesday. * Musk, executives' pay: Musk was paid $54,080 last year but stands to gain billions in equity after the IPO. The Information reported that Musk bought $1.4 billion of stock from employees last year. Reuters reported that SpaceX President Gwynne Shotwell earned $85.8 million in total compensation last year, placing her among the highest-paid U.S. executives. CFO Bret Johnsen earned $9.8 million. * Index rejigs: The mega IPO has also driven index providers to consider revising their approach to designing market indexes, with Morningstar Inc saying its CRSP Market Indexes will add an "alternative liquidity screen", making it possible to add SpaceX and other giant IPOs to the benchmarks more rapidly. * Retail push: Musk plans to allocate about 30% of shares to retail investors. Around 1,500 retail investors have been invited to tour its Starbase launch facilities in Texas, after the roadshow begins in the week of June 8. International retail access will be extended to the UK, the European Union, Australia, Canada, Japan, and South Korea. (Reporting by Fabiola Arámburo and Mrinmay Dey in Mexico City; Editing by Muralikumar Anantharaman)
Anthropic Pushes Fair Use Defense In Music Cos.' IP Fight
By Hailey Konnath ( April 21, 2026, 10:37 PM EDT) -- Anthropic PBC has asked a California federal judge to find that its use of copyrighted materials to train its tool Claude is "transformative" fair use under copyright law, comparing Claude's learning to how humans learn from reading and internalizing the themes of various works.... Law360 is on it, so you are, too. A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions. A Law360 subscription includes features such as * Daily newsletters * Expert analysis * Mobile app * Advanced search * Judge information * Real-time alerts * 450K+ searchable archived articles And more! Experience Law360 today with a free 7-day trial.
SpaceX Eyes $60B Cursor Deal to Boost AI Power Ahead of IPO - EconoTimes
Elon Musk's SpaceX has announced plans to collaborate with AI coding startup Cursor, with the option to acquire the company later this year in a deal valued at $60 billion. The aerospace giant also revealed an alternative arrangement, allowing it to form a strategic partnership with Cursor for $10 billion instead of pursuing a full acquisition. The potential deal highlights SpaceX's growing ambitions in artificial intelligence, particularly in AI-powered software development. According to a company statement, combining Cursor's advanced coding tools and strong adoption among professional developers with SpaceX's massive computing infrastructure could accelerate the creation of highly capable AI models. SpaceX emphasized its "million H100 equivalent Colossus training supercomputer" as a key advantage in this partnership. This development follows recent reports that xAI, Musk's AI venture now integrated into SpaceX, had been in discussions to provide computing power to Cursor. The startup is expected to train its most advanced AI systems using xAI's hardware, signaling a deeper collaboration between the companies. Adding to this momentum, two senior engineers from Cursor recently transitioned to xAI, further strengthening ties between the organizations. Cursor has quickly emerged as one of the fastest-growing platforms in the AI coding space, reportedly targeting a $50 billion valuation during a recent private funding round. However, both Cursor and xAI still trail industry leaders such as OpenAI and Anthropic in developing cutting-edge AI models. The potential partnership or acquisition appears aimed at closing that gap and enhancing competitiveness in the rapidly evolving AI market. The move comes at a critical time for SpaceX as it prepares for a highly anticipated initial public offering. The company is reportedly seeking a valuation of around $1.75 trillion while aiming to raise $75 billion. Despite the significant cost of acquiring Cursor, the deal could position SpaceX as a major player in AI innovation, particularly in the fast-growing field of AI-assisted coding.
Almost over a month after Trump told his government to 'not do business with Anthropic again' now says: I think they can be of great use, they are very ...
US President Donald Trump has indicated a shift in the government's stance toward Anthropic. In a recent interview, Trump has suggested that the company's AI models could still play a role in US government operations despite earlier restrictions. Speaking in an interview on CNBC's Squawk Box, Trump said discussions with the company had taken place at the White House and that a potential agreement with the Department of War (DoW) remains under consideration. His remarks come more than a month after he directed federal agencies to stop using Anthropic's technology and labelled the company a national security risk."They came to the White House a few days ago, and we had some very good talks with them, and I think they're shaping up. They're very smart, and I think they can be of great use," Trump told CNBC. This comes after the Pentagon designated Anthropic as a supply chain risk in March, stating that its technology could pose a threat to US national security. The designation, which has been historically reserved for foreign adversaries, makes Anthropic the first American company to receive it and requires defense contractors to certify that they do not use Claude AI models in their military work. At that, Trump also directed all federal agencies to "IMMEDIATELY CEASE all use of Anthropic's technology" in a Truth Social post, adding that his administration would "not do business with them again."Later on, Anthropic filed lawsuits against the Trump administration in San Francisco and Washington, DC, seeking to reverse its blacklisting. After that, Trump's social media directive was temporarily blocked by a US judge.However, tensions between the two sides appear to be easing, particularly after Anthropic CEO Dario Amodei met with senior administration officials last week to discuss the company's new Mythos model. White House chief of staff Susie Wiles and US Treasury Secretary Scott Bessent attended the meeting, which a White House spokesperson described as "productive and constructive."Earlier this month, Anthropic announced the Mythos AI model and limited its rollout to a small group of companies due to its cybersecurity capabilities. The company said it has been engaged in "ongoing discussions" with US government officials about the model.The launch of Mythos followed the peak of Anthropic's dispute with the Pentagon, but it appears to have created an opportunity for the company to re-engage with the administration. For example, Amodei joined a call with Bessent and Vice President JD Vance earlier this month to discuss AI cyber readiness, along with other major tech CEOs.Founded in 2021, the AI startup signed a $200 million contract with the Pentagon in July last year, but discussions over deploying Claude on the DoW's GenAI.mil platform broke down in September 2025. The Pentagon sought broad access to Anthropic's models for all lawful uses, while Anthropic wanted guarantees that its technology would not be used for fully autonomous weapons or domestic mass surveillance. Since then, the two sides have been unable to reach an agreement.
SpaceX Obtains Option to Buy Cursor for $60 Billion
In an X post on Tuesday, SpaceX referred to a clumsily named entity called “SpaceXAIâ€â€"a term Musk has used beforeâ€"but that’s not even the big news. The big news is that SpaceX, assuming that’s still what the rocket company that also owns xAI and X the social media app wants to be called, now has the option to buy the AI company Cursor for a rather breathtaking $60 billion. Apparently SpaceX has tapped cursor to help it build AI for “coding and knowledge workâ€â€"in other words AI designed to code and do computer-based drudgery. This follows OpenAI’s pivot to enterprise last month, which in turn came after the rise of frenetic AI productivity mania brought on by the release of OpenClaw, which in turn was helped along by Anthropic’s Claude Code, which launched in 2025. But before there was Claude Code there was Cursor, one of the original vibe coding apps, which launched in 2023. Last year, when Cursor’s parent, Anysphere, raised a $105 million funding round, it was valued at $2.5 billion. By my math, SpaceX apparently thinks the Cursor product alone may be worth 24 times that amount. The joint project earns Cursor either $10 billion, or if SpaceX is feeling acquisitive, it could just be bought for the full $60 billion at some point “later this year.†60 is a lot of billions of dollars. For reference, while the SpaceX IPO has a targeted listing valuation of $1.75 trillion, SpaceX hopes to raise $75 billion from investors. In a sense, SpaceX would be spending 80 percent of that before the IPO is even done if it opts to buy Cursor.
This week at SpaceX: AI bets, losses and push for control as mega IPO looms
April 21 (Reuters) - Elon Musk's SpaceX saw a slew of developments this week as it barrels toward what could be the largest initial public offering in history. The rocket and satellite company disclosed an option to acquire AI coding startup Cursor for $60 billion, outlined plans that would entrench permanent voting control for founder Musk, and is kicking off a three-day Wall Street analyst roadshow aimed at defending a $1.75 trillion valuation. SpaceX is targeting a late-June market IPO with a $75 billion capital raising, even as excerpts from its confidential IPO filing show the company swung to a multi-billion-dollar loss in 2025, driven by heavy spending on artificial intelligence. Here are some major developments: Reporting by Fabiola Arámburo and Mrinmay Dey in Mexico City; Editing by Muralikumar Anantharaman Our Standards: The Thomson Reuters Trust Principles., opens new tab
This week at SpaceX: AI bets, losses and push for control as mega IPO looms By Reuters
April 21 (Reuters) - Elon Musk's SpaceX saw a slew of developments this week as it barrels toward what could be the largest initial public offering in history. The rocket and satellite company disclosed an option to acquire AI coding startup Cursor for $60 billion, outlined plans that would entrench permanent voting control for founder Musk, and is kicking off a three-day Wall Street analyst roadshow aimed at defending a $1.75 trillion valuation. SpaceX is targeting a late-June market IPO with a $75 billion capital raising, even as excerpts from its confidential IPO filing show the company swung to a multi-billion-dollar loss in 2025, driven by heavy spending on artificial intelligence. Here are some major developments: * Cursor deal: SpaceX announced on Tuesday it has been granted the option to either acquire code-generation startup Cursor for $60 billion later this year, or pay $10 billion for a partnership. * Voting control: Reuters reported on Monday that SpaceX plans to hand Musk and some insiders super-voting shares that will outweigh other investors after the IPO. * Financials: SpaceX swung to a $4.94 billion consolidated loss in 2025 on revenue of $18.67 billion. SpaceX and xAI, which merged earlier this year, ended 2025 with about $24.8 billion in cash on hand, assets of $92 billion, and liabilities of $50.8 billion. Capex increased almost five-fold over two years to $20.74 billion. * Analyst roadshows: SpaceX is kicking off a three-day Wall Street analyst roadshow this week to justify the $1.75 trillion valuation it is seeking in its IPO. * Warnings to investors: SpaceX has warned investors that its ambitions to build space-based AI data centers, as well as human settlements on the moon and Mars, rely on unproven technologies and may not become commercially viable, Reuters reported on Tuesday. * Musk, executives' pay: Musk was paid $54,080 last year but stands to gain billions in equity after the IPO. The Information reported that Musk bought $1.4 billion of stock from employees last year. Reuters reported that SpaceX President Gwynne Shotwell earned $85.8 million in total compensation last year, placing her among the highest-paid U.S. executives. CFO Bret Johnsen earned $9.8 million. * Index rejigs: The mega IPO has also driven index providers to consider revising their approach to designing market indexes, with Morningstar Inc saying its CRSP Market Indexes will add an "alternative liquidity screen", making it possible to add SpaceX and other giant IPOs to the benchmarks more rapidly.
This week at SpaceX: AI bets, losses and push for control as mega IPO looms
April 21 (Reuters) - Elon Musk's SpaceX saw a slew of developments this week as it barrels toward what could be the largest initial public offering in history. The rocket and satellite company disclosed an option to acquire AI coding startup Cursor for $60 billion, outlined plans that would entrench permanent voting control for founder Musk, and is kicking off a three-day Wall Street analyst roadshow aimed at defending a $1.75 trillion valuation. SpaceX is targeting a late-June market IPO with a $75 billion capital raising, even as excerpts from its confidential IPO filing show the company swung to a multi-billion-dollar loss in 2025, driven by heavy spending on artificial intelligence. Here are some major developments: * Cursor deal: SpaceX announced on Tuesday it has been granted the option to either acquire code-generation startup Cursor for $60 billion later this year, or pay $10 billion for a partnership. * Voting control: Reuters reported on Monday that SpaceX plans to hand Musk and some insiders super-voting shares that will outweigh other investors after the IPO. * Financials: SpaceX swung to a $4.94 billion consolidated loss in 2025 on revenue of $18.67 billion. SpaceX and xAI, which merged earlier this year, ended 2025 with about $24.8 billion in cash on hand, assets of $92 billion, and liabilities of $50.8 billion. Capex increased almost five-fold over two years to $20.74 billion. * Analyst roadshows: SpaceX is kicking off a three-day Wall Street analyst roadshow this week to justify the $1.75 trillion valuation it is seeking in its IPO. * Warnings to investors: SpaceX has warned investors that its ambitions to build space-based AI data centers, as well as human settlements on the moon and Mars, rely on unproven technologies and may not become commercially viable, Reuters reported on Tuesday. * Musk, executives' pay: Musk was paid $54,080 last year but stands to gain billions in equity after the IPO. The Information reported that Musk bought $1.4 billion of stock from employees last year. Reuters reported that SpaceX President Gwynne Shotwell earned $85.8 million in total compensation last year, placing her among the highest-paid U.S. executives. CFO Bret Johnsen earned $9.8 million. * Index rejigs: The mega IPO has also driven index providers to consider revising their approach to designing market indexes, with Morningstar Inc saying its CRSP Market Indexes will add an "alternative liquidity screen", making it possible to add SpaceX and other giant IPOs to the benchmarks more rapidly.
Anthropic's Claude Mythos AI Finds 271 Vulnerabilities in Firefox -- Yes, It's Seriously Powerful - Decrypt
Researchers warn that the same capability could accelerate automated cyberattacks. For decades, attackers have had the advantage in cybersecurity. Artificial intelligence may be about to change that. In a blog post published on Tuesday, Firefox browser developer Mozilla said an early version of Anthropic's Claude Mythos AI -- which has drawn attention in recent weeks for its purported cybersecurity prowess -- model helped identify 271 vulnerabilities in the browser during internal testing. Those bugs were patched this week. The results highlight how advanced AI systems can analyze large codebases and locate weaknesses that previously required extensive manual review by human cybersecurity researchers. "As these capabilities reach the hands of more defenders, many other teams are now experiencing the same vertigo we did when the findings first came into focus," Mozilla wrote. "For a hardened target, just one such bug would have been red-alert in 2025, and so many at once makes you stop to wonder whether it's even possible to keep up." Mozilla had earlier tested another Anthropic model that identified 22 security-sensitive bugs in a previous Firefox release. Despite these successes, Mozilla acknowledged that the cybersecurity industry has long treated the complete elimination of software exploits as an "unrealistic goal." "Until now, the industry has largely fought security to a draw," the company wrote. "Vendors of critical internet-exposed software like Firefox take security extremely seriously and have teams of people who get out of bed every morning thinking about how to keep users safe." Mozilla said the new AI system can analyze source code and identify vulnerabilities in ways that previously depended on scarce human expertise. However, Mozilla said the company was encouraged to see that no bugs were found that couldn't have been discovered by "an elite human researcher." "Some commentators predict that future AI models will unearth entirely new forms of vulnerabilities that defy our current comprehension, but we don't think so," they said. "Software like Firefox is designed in a modular way for humans to be able to reason about its correctness. It is complex, but not arbitrarily complex." The results, however, suggest AI tools could allow developers to uncover large numbers of vulnerabilities before attackers exploit them -- though conversely, in the wrong hands, it could spell big trouble for software firms and users alike. Launched in March, Mythos is Anthropic's most advanced model for reasoning, coding, and cybersecurity tasks. Internal company materials describe the system as part of a new model tier beyond the company's earlier Opus series. Testing conducted before the model's release showed it could identify thousands of previously unknown vulnerabilities across major operating systems and web browsers. Anthropic has limited access to the system through a restricted program called Project Glasswing, which gives select technology companies -- including Amazon, Apple, and Microsoft -- the ability to use the model to scan software for weaknesses. It reflects a growing effort within the cybersecurity industry to use AI systems to identify and patch vulnerabilities before attackers can exploit them. However, the same technology could also enable new forms of cyberattacks. Security researchers say AI systems capable of analyzing code at scale could automate the discovery of exploitable vulnerabilities across widely used software. After the launch of Mythos, testing by the U.K.'s AI Security Institute found that the AI could autonomously execute complex cyber operations, including completing a multi-stage corporate network attack simulation without human assistance. Those capabilities have drawn attention from governments and intelligence agencies alike. Despite a call from President Donald Trump's administration to stop using Anthropic's technology due to a clash over its use in war and surveillance matters, on Monday, the National Security Agency was revealed to be running Claude Mythos Preview on classified networks, according to sources familiar with the deployment. The use of Mythos underscores the growing interest among U.S. security agencies in the model's ability to identify critical software vulnerabilities. The model's performance has also exposed limits in existing AI evaluation systems. Earlier this month, Anthropic acknowledged that several cybersecurity benchmarks are no longer sufficient to measure the capabilities of its newest models. Mozilla said the results point to a potential shift in cybersecurity, where defenders may begin to close the long-standing advantage attackers have held. "We are extremely proud of how our team rose to meet this challenge, and others will too," Mozilla wrote. "Our work isn't finished, but we've turned the corner and can glimpse a future much better than just keeping up. Defenders finally have a chance to win, decisively."
This week at SpaceX: AI bets, losses and push for control as mega IPO looms
April 21 (Reuters) - Elon Musk's SpaceX saw a slew of developments this week as it barrels toward what could be the largest initial public offering in history. The rocket and satellite company disclosed an option to acquire AI coding startup Cursor for $60 billion, outlined plans that would entrench permanent voting control for founder Musk, and is kicking off a three-day Wall Street analyst roadshow aimed at defending a $1.75 trillion valuation. SpaceX is targeting a late-June market IPO with a $75 billion capital raising, even as excerpts from its confidential IPO filing show the company swung to a multi-billion-dollar loss in 2025, driven by heavy spending on artificial intelligence. Here are some major developments: * Cursor deal: SpaceX announced on Tuesday it has been granted the option to either acquire code-generation startup Cursor for $60 billion later this year, or pay $10 billion for a partnership. * Voting control: Reuters reported on Monday that SpaceX plans to hand Musk and some insiders super-voting shares that will outweigh other investors after the IPO. * Financials: SpaceX swung to a $4.94 billion consolidated loss in 2025 on revenue of $18.67 billion. SpaceX and xAI, which merged earlier this year, ended 2025 with about $24.8 billion in cash on hand, assets of $92 billion, and liabilities of $50.8 billion. Capex increased almost five-fold over two years to $20.74 billion. * Analyst roadshows: SpaceX is kicking off a three-day Wall Street analyst roadshow this week to justify the $1.75 trillion valuation it is seeking in its IPO. * Warnings to investors: SpaceX has warned investors that its ambitions to build space-based AI data centers, as well as human settlements on the moon and Mars, rely on unproven technologies and may not become commercially viable, Reuters reported on Tuesday. * Musk, executives' pay: Musk was paid $54,080 last year but stands to gain billions in equity after the IPO. The Information reported that Musk bought $1.4 billion of stock from employees last year. Reuters reported that SpaceX President Gwynne Shotwell earned $85.8 million in total compensation last year, placing her among the highest-paid U.S. executives. CFO Bret Johnsen earned $9.8 million. * Index rejigs: The mega IPO has also driven index providers to consider revising their approach to designing market indexes, with Morningstar Inc saying its CRSP Market Indexes will add an "alternative liquidity screen", making it possible to add SpaceX and other giant IPOs to the benchmarks more rapidly.
This week at SpaceX: AI bets, losses and push for control as mega IPO looms
April 21 (Reuters) - Elon Musk's SpaceX saw a slew of developments this week as it barrels toward what could be the largest initial public offering in history. The rocket and satellite company disclosed an option to acquire AI coding startup Cursor for $60 billion, outlined plans that would entrench permanent voting control for founder Musk, and is kicking off a three-day Wall Street analyst roadshow aimed at defending a $1.75 trillion valuation. SpaceX is targeting a late-June market IPO with a $75 billion capital raising, even as excerpts from its confidential IPO filing show the company swung to a multi-billion-dollar loss in 2025, driven by heavy spending on artificial intelligence. Here are some major developments: * Cursor deal: SpaceX announced on Tuesday it has been granted the option to either acquire code-generation startup Cursor for $60 billion later this year, or pay $10 billion for a partnership. * Voting control: Reuters reported on Monday that SpaceX plans to hand Musk and some insiders super-voting shares that will outweigh other investors after the IPO. * Financials: SpaceX swung to a $4.94 billion consolidated loss in 2025 on revenue of $18.67 billion. SpaceX and xAI, which merged earlier this year, ended 2025 with about $24.8 billion in cash on hand, assets of $92 billion, and liabilities of $50.8 billion. Capex increased almost five-fold over two years to $20.74 billion. * Analyst roadshows: SpaceX is kicking off a three-day Wall Street analyst roadshow this week to justify the $1.75 trillion valuation it is seeking in its IPO. * Warnings to investors: SpaceX has warned investors that its ambitions to build space-based AI data centers, as well as human settlements on the moon and Mars, rely on unproven technologies and may not become commercially viable, Reuters reported on Tuesday. * Musk, executives' pay: Musk was paid $54,080 last year but stands to gain billions in equity after the IPO. The Information reported that Musk bought $1.4 billion of stock from employees last year. Reuters reported that SpaceX President Gwynne Shotwell earned $85.8 million in total compensation last year, placing her among the highest-paid U.S. executives. CFO Bret Johnsen earned $9.8 million. * Index rejigs: The mega IPO has also driven index providers to consider revising their approach to designing market indexes, with Morningstar Inc saying its CRSP Market Indexes will add an "alternative liquidity screen", making it possible to add SpaceX and other giant IPOs to the benchmarks more rapidly.
SpaceX Has Deal for Right to Acquire Cursor for $60 Billion
(Bloomberg) -- SpaceX said it has an agreement giving it the right to acquire artificial intelligence startup Cursor for $60 billion later this year or to pay $10 billion for the companies' work together, part of the Elon Musk-run firm's efforts to catch up with rivals in AI coding tools. Most Read from Bloomberg Musk's rocket, satellite and artificial intelligence giant announced the deal in a post on X, saying the two companies are "now working closely together to create the world's best coding and knowledge work AI." SpaceX recently merged with xAI, Musk's artificial intelligence company, which competes with Anthropic and OpenAI in creating generative AI tools for consumers and businesses. The deal comes shortly after Musk said that xAI is behind on software coding tools compared with peers and vowed to rebuild the company from the ground up. In March, he ordered a round of layoffs. He's also been seeking engineering talent, and has previously hired from Cursor. SpaceX isn't acquiring Cursor immediately because of the rocket company's imminent initial public offering, according to a person familiar with the matter, who asked not to be identified discussing nonpublic information. A major transaction would require the company to update its filings and financial details, potentially delaying the IPO, which is targeting a $2 trillion valuation. The $10 billion is a breakup fee if the deal doesn't go through, according to people with knowledge of the deal. SpaceX and xAI didn't immediately respond to a request for comment. Cursor had been in talks with investors to raise about $2 billion in a funding round with a valuation of more than $50 billion, not including the investment, Bloomberg reported last week. The company is no longer proceeding with the round, because the capital was set to fund Cursor's computing needs -- which are now being handled by xAI -- according to a person familiar with the matter. Cursor's AI assistant, launched in 2023, helps programmers write and debug code more efficiently. It's become one of the fastest-growing startups of all time and a central player in tech's "vibe coding" era, as demand surges among software developers for tools that can build based on prompts to a chatbot.
The agility trap: Why most Singaporean businesses are structured for stability, not speed
What businesses need is not a reactive response to change, but an operating model that is better equipped to adapt. Most Singapore business leaders would describe their organisations as agile. Few, however, could say that their organisations are built to be agile with the same confidence. The distinction between aspiration towards agility and being designed for is where many Singapore businesses are losing competitive advantage - not for a lack of ambition or effort, but in most cases, due to the organisation's operational model itself. The pressure is real, and it is not going away Whilst Singapore's business environment has always been demanding, the current circumstances feel markedly different. A total of 73% of SMEs cite rising costs as a top concern in 2026, up from 62% the year before. Compounding the issues on the cost front, 71% of employers report difficulty hiring skilled talent. Margins are tighter, headcount is harder to justify, and the expectation to do more with less appears to have become a permanent fixture of the landscape rather than a temporary response to a challenging year. In this environment, the instinct is to reach for familiar solutions: Hire when possible, restructure when necessary, digitise where you can. Whilst reasonable, these are responses designed for a world where disruption is episodic - conditions shift, businesses adapt, the situation stabilises, and business resumes as usual. Today, what businesses need is not a reactive response to change, but an operating model that is better equipped to adapt to it. Agility means adapting to the times The word "adaptability" has been used very broadly in recent times, but its meaning deserves closer examination. An adaptive enterprise is one that continuously evolves to meet changing market demands - integrating flexible processes, responsive structures. and feedback-driven decision-making to stay ahead of disruption rather than react to it. More than a business that responds well to change, it is one that was deliberately designed to do so. In practice, genuinely adaptive organisations share three characteristics that are easy to describe, yet hard to build. The first is flexibility, or the ability to scale capacity up or down in response to real conditions, instead of being locked into fixed structures that were designed for a different set of circumstances. The second is resilience -- established systems and processes that can absorb disruption without breaking, because they were built with variability in mind. The third, and perhaps the most unappreciated, is continuous improvement -- the discipline of using feedback to continually refine how the businesses operate instead of treating their operating model as a settled equation. Most organisations are strong on the third characteristic, but struggle on the first two -- because designing for flexibility and resilience requires structural choices that many businesses have yet to make. The hidden drag of in-house thinking Understandably, the dominant assumption in most Singapore organisations -- SMEs in particular -- is that functions should be built, owned, and managed internally unless there is a compelling reason to do otherwise. Whilst this is reflective of a desire for control, quality, and institutional knowledge, it also creates organisational drag. Fixed headcount equates to fixed costs, regardless of demand. In-house processes are often designed around the team's existing capabilities instead of the business's actual needs. When conditions shift, these structures resist, and leaders find themselves managing the constraints of the operating model when they should be prioritising responding to the market. Such structural problems necessitate structural solutions. Outsourcing as a design decision, not a cost measure Strategic outsourcing is frequently misunderstood as a cost-cutting exercise. In practice, however, the businesses using it most effectively are not primarily trying to reduce spend -- it forms part of their effort to construct a more responsive operating model. When a business outsources a function, it converts a fixed cost into a variable one -- enabling access to specialist capabilities without the overhead of building and retaining them in-house. This frees internal teams to focus on work that is genuinely different -- work that creates competitive advantage -- instead of managing processes that, whilst important, are not distinctive. Critically, this also creates the capacity to scale without the lag time and expenses that come with the process of permanent hiring. This is what an adaptive enterprise looks like in practice - not a leaner version of the same structure, but a fundamentally different approach to how work is organised and delivered. The blueprint for true organisational adaptability For leaders looking to build genuine adaptability, the starting point is an honest assessment of where the operating model is creating drag. Which functions are consuming disproportionate management attention? Where is fixed headcount limiting the ability to respond quickly? Which capabilities are the true core of what the business does, and which are simply things the business has always done in-house? The answers are often more revealing than expected, and they usually point to a need for a redesign rather than a restructure. Singapore's most resilient businesses are not simply working harder with a variation of the same model. They are building differently by intent, and from the ground up. In a business environment where conditions are unlikely to stabilise anytime soon, that distinction is the one that matters the most.
