SpaceX just bought a $60 billion company without spending a dollar.
The deal for Cursor, the AI coding tool, is all stock. No cash. SpaceX prints new shares, hands them over, done.
Now connect it to what happened last week.
SpaceX went public by floating just 4% of itself. 556 million shares against 13 billion. The tiniest free float a mega-cap has ever listed with. Index funds were forced to buy it. Retail piled in. Tiny supply, enormous demand, and the stock rocketed past $200.
Here's the part that should make you sit up.
The price SpaceX pays for Cursor is set by its own share price in the seven days before closing. The higher the stock, the fewer shares it has to print to cover $60 billion.
So the engineered scarcity that pumped the stock now makes the acquisition cheaper. The squeeze pays for the shopping spree.
A company losing $4 billion a quarter is now buying AI startups with paper it manufactured out of a 4% float.
This isn't aerospace. It isn't even AI.
It's the finest financial engineering of the century, and it's only getting started.
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