SpaceX buys AI startup for R978 billion, and PayPal in sale talks

• SpaceX has completed a $60-billion acquisition of AI coding startup Cursor, a key part of Elon Musk’s bid to gain ground on rivals Anthropic and OpenAI.
• The acquisition is intended to help SpaceX bolster efforts to build more advanced AI tools to streamline tasks, including for coding, a lucrative market for AI.
• With the deal, Cursor’s co-founders will become billionaires, and the startup’s team will gain access to SpaceX’s stockpile of advanced AI chips, enabling them to build stronger and more economical AI models.