OpenAI Pulls Models From Cursor After SpaceX (SPCXB) $60 Billion Acquisition

OpenAI Ends Cursor Access

OpenAI is severing its partnership with Cursor, one of the most widely used AI coding assistants, two weeks after SpaceX (SPCXB) pulled the tool into Elon Musk's empire through a $60 billion all-stock acquisition completed on August 14. The exit rests on a change-of-control clause — a contract term that lets one party walk away when the other is sold — and under the terms laid out in an announcement posted on X, developers' direct access to OpenAI models inside Cursor ends on November 12. Astra, OpenAI's next flagship model, will never ship through the platform at all. The scale of the deal put the stock at the center of an AI platform fight from day one, and we mapped the immediate read for SPCXB holders when it landed. OpenAI never alleged that Cursor itself misbehaved; its stated rationale is trust, backed by two precedents. X, the platform Musk bought in 2022 and later folded into SpaceX, broke an earlier OpenAI contract. Separately, in a California courtroom on April 30, a lawyer asked Musk under oath whether xAI had distilled OpenAI models — repeatedly prompting a rival model to copy what it knows — to train Grok. Musk first replied that every AI company does it, then conceded that xAI had partly done so. Michael Truell, a Cursor co-founder now working for SpaceX, sized the damage at roughly 5% of user traffic and said talks with OpenAI remain open. Musk signaled no interest in negotiating, writing in a post on X that he “couldn't care less” and branding OpenAI's leadership untrustworthy. Anthropic moved the other way: co-founder Tom Brown said it will add compute so Claude runs better inside Cursor, and Cursor already routes to Grok, Claude and Gemini. For OpenAI, the stakes reach past the revenue tied to 5% of one customer — this is a refusal to sell model access to Musk at all, and developers now have until November 12 to choose a new supplier.

an announcement posted on Xhttps://x.com/OpenAI/status/2093515564786540695?ref_src=twsrc%5Etfw

Musk Controls 84% of SPCXB Votes

The shareholder register attached to the listing explains why counterparties are recalibrating. SpaceX went public in June 2026 at $135 per share, and Musk controls roughly 6.42 billion shares across personal holdings, trusts and stock options — about 48.4% of the company, valued near $860 billion. His Class B shares carry 10 votes each, so his grip on the ballot dwarfs his economic stake: an estimated 82-84% of total voting power, leaving him with final say over every major corporate decision. Behind him stand heavyweight institutions. Alphabet holds about 551 million shares, a 4.2% stake worth roughly $94 billion that grew out of a $900 million investment made in 2015. Valor Equity Partners controls 3.8% (about $86 billion) and Peter Thiel's Founders Fund 3.2% (about $73 billion), while Fidelity's funds hold 2.3% (about $52 billion). Gigafund follows with 1.3%, Saudi Arabia's Public Investment Fund with 1.2% ($26.3 billion), Baron Capital with 1.1% (about $25 billion) and D1 Capital Partners with 1%. Nvidia's 0.9% position — roughly $21 billion — rounds out the register, a stake we examined when the chipmaker's exposure to SpaceX came into view. The AI tilt of this register has minted paper fortunes elsewhere too, as Josh Kushner's net worth crossing $16.7 billion on his SPCXB exposure showed. The supply side is loosening faster than the vote count. Roughly 319 million shares, about 7% of insider holdings, came out of lockup this month, and the stock slid about 5% below its $135 offer price after the disclosure before clawing back to that level for the first time in nearly a month. President Donald Trump bought between $15,001 and $50,000 of SpaceX stock on June 23, eleven days after the listing. Musk's own shares cannot be sold before June 12, 2027, and remain subject to SEC Rule 144 volume limits afterward — so each successive unlock makes early investors' hold-or-sell choices the stock's decisive variable, and anyone absorbing those blocks risks ending up as exit liquidity. Readers tracking the market in real time can follow live spot and futures prices on MEXC.

The 2027 Lockup Decides

Both developments trace one arc: consolidation of control. An 84% voting grip let Musk absorb a $60 billion platform without a shareholder check, and that same concentration is what OpenAI's trust argument targets. The authoritative record sits in the litigation file: Musk's sworn April 30 testimony in a California court, where he conceded partial distillation of OpenAI models, and the jury's subsequent dismissal of his own suit against OpenAI for being filed too late. That ruling — issued in the case Musk himself brought — underpins the counterparty hesitancy now reshaping AI tooling. Anthropic's compute pledge is the counter-bet, and with SPCXB's insider supply gated until June 2027, the same control that speeds decisions concentrates their risk — a dynamic any DAO participant or rug pull survivor will recognize.