OpenAI will terminate its contract with Cursor after SpaceX acquired Anysphere, Cursor's parent company, for $60 billion in an all-stock deal finalized in August and officially joined SpaceX on Aug. 14. The transaction triggered a change-of-control clause, with the wind-down taking effect November 12, while Cursor shifts toward Anthropic, xAI's Grok and its own Composer technology. Separately, Oppenheimer raised its SpaceX $SPCX price target to $280 from $250 and maintained an Outperform rating, saying Cursor, expanding Nvidia-backed compute capacity and Grok's progress have helped turn SpaceX into a credible Anthropic competitor. SpaceX is targeting a $100 billion revenue run rate by year-end, approximately 70% tied to AI, and could reach $120 billion to $130 billion next year. OpenAI cited trust concerns involving past contract violations by Elon Musk's companies X, formerly Twitter, and xAI; Cursor CEO Michael Truell said OpenAI models represented about 5% of user traffic, while Cursor exceeded $1 billion in annual recurring revenue by late 2025 and some reports suggested run rates near $4 billion. The developments reinforce SpaceX's broader vertically integrated AI, connectivity and infrastructure strategy, while leaving execution, capital-spending and valuation risks as the company approaches a $2 trillion valuation.