Behind Cursor’s Deal With SpaceX, Anthropic and Compute Costs Loomed Large

Weeks before Cursor agreed to a $60B potential takeover from SpaceX, the hot AI coding startup set out to raise billions of dollars. As its leaders made the rounds among tech’s largest investors, they started to hear an unfamiliar message: No, thanks. Many investment firms usually capable of writing the largest checks into startups, including Iconiq and other late-stage tech investors, had just invested billions of dollars into OpenAI and Anthropic, whose Claude Code appeared to be growing faster.