PART 40 / 63 spaceX招股书

近期动态：和 Cursor 的合作（2026 年 4 月）

$60.0BCursor 隐含估值$1.5B期权终止费$8.5B延期服务费

ENGLISH · ORIGINAL

Recent Developments Collaboration with Cursor In April 2026, we entered into a compute and option agreement with Anysphere, Inc., doing business as Cursor, a San Francisco-based private software company ("Cursor"), which we view as a compelling extension of our strategy to vertically integrate compute infrastructure, models, and applications. Under the compute agreement, we will provide Cursor with certain GPU cluster compute capacity and collaborate to improve existing models, including Grok, and potentially to jointly develop AI models and related model-specific deliverables or products. With the option agreement, we have the right, but not obligation, to acquire Cursor at a predetermined price or pay a fee. We 13 Table of Contents consider software development as a strategically important use case for AI given its combination of high-quality structured data, rapid feedback cycles and frequent, mission-critical usage. AI-assisted coding workflows generate context-rich, verifiable data that can enhance model training and performance, while also driving sustained inference demand. The depth of Cursor's integration with a high-frequency coding workflow generates valuable developer interaction data, including coding generation prompts, iteration cycles, and software architecture decisions. We expect that access to this data will enhance our model training and inference, including with respect to Grok.

中文翻译

近期动态：和 Cursor 的合作（2026 年 4 月）

近期动态

与 Cursor 的合作 2026 年 4 月，我们和 Anysphere, Inc.（对外品牌叫 Cursor，一家总部在旧金山的私有软件公司）签了一份"算力 + 期权"协议。我们认为这是"垂直整合算力、模型和应用"战略的一个有说服力的延伸。协议包含两块：

• 算力协议（Compute Agreement）：我们会给 Cursor 提供一定的 GPU 集群算力——同时合作改进现有模型（包括 Grok）——并且可能会共同开发 AI 模型和相关的"模型专用"交付物/产品。

• 期权协议（Option Agreement）：我们有权（但没有义务）以一个预定的价格收购 Cursor——或者支付一笔费用。

我们认为"软件开发"是 AI 的一个战略性重要使用场景，原因有三点：

• 高质量的结构化数据；

• 快速的反馈循环；

• 高频、关键任务式的使用。

AI 辅助写代码的工作流会产生"上下文丰富、可验证"的数据——既能提升模型训练和表现，又能持续拉动推理需求。Cursor 和"高频写代码"工作流深度集成——它能拿到宝贵的开发者交互数据，包括生成代码的提示词（prompts）、迭代轮次、软件架构决策。我们预期，拿到这些数据会提升我们的模型训练和推理能力——对 Grok 尤其如此。

💵 $60B 收购 + $10B 终止费