SpaceX Makes a $60 Billion Bet on Its AI Future
6/16/202612 min
P.M. Edition for June 16. SpaceX said today that it would acquire the parent company of the AI coding tool Cursor for $60 billion. WSJ reporter Becky Peterson explains how the deal is intended to help SpaceX catch up with its AI rivals. Plus, the agreement to end the war will allow Iran to immediately begin selling oil. We hear from Journal national security reporter Alex Ward about the strategy behind this–and how it’s going over with President Trump’s supporters. And WSJ Heard on the Street writer Asa Fitch discusses how Qualcomm has been diversifying its business to cash in on the AI boom. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices
Clips
Transcript preview
First 90 secondsSpeaker 10:00
[upbeat music] So there's a lot of noise about AI, but time's too tight for more promises. So let's talk about results. At IBM, we work with our employees to integrate technology right into the systems they need. Now, a global workforce of 300,000 can use AI to field their HR questions, resolving 94% of common questions. Not noise, proof of how we can help companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business, IBM.
Alex Ossola· Host0:30
[upbeat music] The US will allow Iran to immediately start selling oil as part of the deal to end the war. Plus, why SpaceX is spending $60 billion on the AI coding agent Cursor.
Becky Peterson· Guest0:44
SpaceX thought it was a rocket company, thought it was a satellite company, and it's going to keep doing both of those things, but its new future is in AI.
Alex Ossola· Host0:54
And is Qualcomm actually a bargain among AI chip makers? It's Tuesday, June 16th. I'm Alex Osula for the Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that moved the world today. [upbeat music] The Trump administration says the agreement to end the war between the US and Iran was signed electronically on Sunday. No text has been released, though speaking today from the G7 meeting in France, President Trump said that could soon change.
Donald Trump· Soundbite1:29
But,