☕️ SpaceX acquires AI startup for $60B

Hi there, this is your daily ☕️ Techpresso.

In today's newsletter:

🚀 SpaceX acquires Cursor for $60B

💸 OpenAI's losses just exploded nearly 8X

🤖 Facebook's new AI knows more about you than you think

💰 Nvidia joins the AI debt boom

🚫 Chrome is closing the last loophole for ad blockers

🧵 Threads just hit half a billion users

Plus: 🎁 12 other news you might like, 🧰 6 tools, and 📚 4 papers.

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• SpaceX is buying Anysphere, the company behind the AI coding assistant Cursor, in an all-stock deal worth $60 billion, pushing Elon Musk's company well beyond rockets, satellites, and AI models into developer software.
• According to a Form 8-K filed with the SEC on June 16, Cursor shareholders will get SpaceX Class A common stock, and the transaction is expected to close in the third quarter of 2026, pending regulatory approval.
• Cursor has passed 1 million paying customers and more than $2 billion in annualized revenue, with revenue projected to reach $6 billion by the end of 2026, meaning SpaceX is paying roughly 20 to 30 times current revenue.

• OpenAI's net loss attributable to the company jumped from $5.09 billion in 2024 to $38.53 billion in 2025, according to audited financial documents independently verified by the Financial Times.
• In 2025, OpenAI had $13.07 billion in revenue against $34 billion in total costs and expenses, including $19.18 billion on research and development, leaving a $20.92 billion loss from operations.
• Converting from a non-profit to a for-profit triggered a $41.55 billion loss from changes in fair value, pushing the net loss to $60.35 billion before $21.82 billion was removed via noncontrolling interests.

• Facebook is rolling out "AI Mode," a new way to search the platform using Meta AI, which pulls answers from public posts across Facebook, including Groups and Reels, instead of showing a list of results.
• Rather than scrolling through search results, users can ask a question in plain language and get a synthesized answer based on what people are actively discussing across the platform.
• Because the AI summarizes content from everyday users instead of vetted sources, there's a real risk of outdated or misleading information slipping through, a concern already raised about Google's own AI Mode on Reddit.

• Nvidia is raising at least $20 billion through bonds, its first such sale since 2021, joining other tech companies that have taken on debt to fund the AI buildout, Bloomberg reports.
• The chipmaker is offering the bonds in seven tranches with maturities running from two to 30 years, and the longest tranche carries a spread of about 0.9 percentage points above U.S. Treasuries.
• Nvidia plans to use the money for general corporate purposes, including refinancing existing debt, with JPMorgan Chase, Morgan Stanley, and Goldman Sachs among the banks managing the sale.

• Google is ending support for Manifest V2 extensions in Chrome versions 150 and 151, a move that will break many popular ad blockers built on that older technology over the next couple of releases.
• Under Manifest V3, extensions can no longer intercept data dynamically, so the new compliant ad blockers on the Chrome Web Store rely on predefined lists to work, making them less effective than before.
• People who want to avoid Chrome's strict Manifest V3 rules can switch to Mozilla's Firefox, which supports both Manifest V2 and V3 at the same time, or try a VPN with ad-blocking services like NordVPN.

• Meta's Threads app has passed half a billion users, hitting 500 million monthly users this month and adding about 100 million new users since last August, with the company crediting its "communities" feature for the recent growth.
• Meta claims growth is now more organic as more people open Threads directly instead of clicking through Instagram or Facebook, and it pointed to gains in Asia, where time spent rose 80 percent in South Korea and 130 percent in Japan.
• Meta hasn't shared daily active users since October, when Threads reached 150 million, and the app still doesn't drive revenue, with CFO Susan Li saying in April it won't be a "meaningful driver" of revenue growth in 2026.

Other news & articles you might like

• DOJ invokes national security to defend xAI's unpermitted gas turbines in NAACP lawsuit LINK

• Musk’s trade secret case against OpenAI is dead, and this time it’s permanent LINK

• Anthropic Faces Lawsuit Over Allegedly Misleading Claude AI Pricing LINK

• ChatGPT’s market share slips below 50% for first time LINK

• Microsoft faces shareholder lawsuit over masking AI costs and slowing Azure growth LINK

• Alibaba unveils AI models for robots as China’s focus shifts to agents LINK

• DeepSeek’s $7B raise signals a new front in the AI war LINK

• Google Earth on the web now has a flight simulator LINK

• DOJ Lawyers Argue xAI Is ‘Vital’ for National Security in NAACP Lawsuit LINK

• Cybersecurity experts don’t think Anthropic’s Fable 5 presents a unique cybersecurity threat LINK

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