the IPO raised $85B and they just spent $60B on Cursor. If this was the intention it should have been in a disclosure

Edit: I see SpaceX did disclose

> With the option agreement, we have the right, but not obligation, to acquire Cursor at a predetermined price or pay a fee

> The consideration for the acquisition of Cursor, if any, after the closing of this offering would consist of shares of our Class A common stock based on an implied equity value of Cursor of $60.0 billion

"Collaboration with Cursor" page 12 of the SpaceX S-1 https://www.sec.gov/Archives/edgar/data/1181412/000162828026...

this is an all-stock transaction. No cash spent.

SPCX is exactly the "currency" that LLM companies should be valued in.

$60B cash? Too much.

$60B SPCX stock? Why so low.