Key HighlightsThe aerospace company finalized its $60 billion Cursor acquisition earlier than anticipated, wrapping up the deal on August 14Shares of SPCX declined 2% to $143.26 during premarket hours following the transaction’s completionAnalyst Edison Yu from Deutsche Bank increased SpaceX’s projected 2027 revenue from $97 billion to $115 billionThe acquisition creates a complete AI infrastructure: computing facilities, proprietary Grok technology, and Cursor’s application suiteAnalysts maintain a Moderate Buy stance on SPCX, with a collective price target averaging $232.35Shares of SpaceX experienced a roughly 2% decline in early Tuesday trading, settling at $143.26, following the company’s announcement that it had finalized its $60 billion Cursor transaction earlier than projected.Space Exploration Technologies Corp., SPCXThe aerospace firm’s shares had climbed 4.5% during Monday’s session, buoyed in part by confirmation that the transaction concluded on August 14, beating most Wall Street expectations.Cursor represents an artificial intelligence-driven software creation platform. The technology allows users to articulate requirements using everyday language, with Cursor generating the corresponding code through conversational instructions.The solution also features autonomous AI agents capable of independently writing and debugging code. It faces competition from Microsoft’s GitHub Copilot, Anthropic’s Claude platform, and OpenAI’s Codex technology.In a research note released Monday, Deutsche Bank’s Edison Yu, recognized as a four-star analyst, identified three primary advantages stemming from this acquisition.First, the Cursor platform provides SpaceX with an instant revenue stream from its artificial intelligence operations. Cursor’s client roster already includes numerous enterprise-level organizations with active subscriptions.Second, the transaction brings expert AI development personnel directly into SpaceX’s organizational structure.Third, it establishes a complete, end-to-end AI infrastructure. The company now manages every component: computational infrastructure through data centers, the advanced Grok AI system, and Cursor serving as the user-facing application tier.Wall Street Increases Revenue ProjectionsIn response to the deal’s finalization, Yu elevated his 2027 revenue projection for SpaceX from $97 billion to $115 billion. His Buy recommendation and $235 target price remain unchanged.Among Wall Street analysts, the consensus 2027 revenue forecast compiled by FactSet hovers around $99 billion. This contrasts with approximately $44 billion anticipated for 2026.SpaceX currently leases its AI computational infrastructure to companies including Anthropic and Google. The Cursor transaction enables SpaceX to market proprietary AI solutions directly, moving beyond merely providing infrastructure for competitors.Share Lockup Expiration Creates HeadwindsThe premarket decline coincided with investor attention on an approaching supply catalyst. Approximately 319 million shares held by early investors and company insiders will become eligible for trading on August 20 as lockup restrictions expire.In total, roughly 4.9 billion shares are slated to exit lockup periods before year-end, a schedule that market participants are monitoring with keen interest.Heading into Tuesday’s session, SPCX traded 8% above its $135 initial public offering price, though remaining 35% below its all-time peak of $225.64.The company reported 1.4 gigawatts of operational AI computing capacity at the conclusion of the second quarter. Chief Executive Elon Musk has established a goal of reaching 10 gigawatts by the close of 2027.Additionally, the organization intends to deploy space-based AI computing infrastructure using its Starship launch vehicle by 2028.The Wall Street consensus rating for SPCX currently stands at Moderate Buy, derived from 24 Buy recommendations, five Hold ratings, and two Sell opinions issued since the company’s public debut. The mean analyst price target reaches $232.35, suggesting potential upside of approximately 59% from present trading levels.The post SpaceX (SPCX) Shares Decline as $60B Cursor Deal Closes Ahead of Schedule appeared first on Blockonomi.