Space X announced it will buy the AI coding agent Cursor’s parent company for $60 billion, a move that could lure enterprise clients wary of its in‑house chatbot Grok. The purchase positions Space X as a rival to Anthropic’s Claude Code and Open AI’s Codex, broadening its software footprint.

Space X’s share price closed 4.8% higher, pushing its market capitalization past that of Amazon, the e‑commerce giant. The deal signals a shift toward software revenue, a sector where Space X has lagged behind its aerospace roots. Investors now view the company as a potential tech disruptor.

Meanwhile, a U.S.–Iran ceasefire agreement allows Tehran to restart oil sales immediately and offers sanctions relief if nuclear stockpiles are destroyed. Brent crude futures fell 5% to $78.96 a barrel, the first time below $80 since the early Iran conflict. Oil prices and markets reacted sharply.

Robinhood announced a 10% staff cut as it trims costs amid slower trading growth. Its shares dipped 1.4% after reporting higher expenses. Japan raised its benchmark rate to 1%, a 31‑year high, while the U.S. central bank prepares a Wednesday decision. Market sentiment remains mixed.