SpaceX Rises, Rackspace Technology Surges, Netflix Drops on Semafor Report

On this episode of Stock Movers:
- SpaceX (SPCX) shares gain. SpaceX formally agreed to buy Cursor in a deal that will entitle the startup's investors to SpaceX stock. The acquisition is expected to help SpaceX's xAI rapidly rebuild and catch up to rivals including Anthropic PBC and OpenAI in the market for artificial intelligence-powered coding tools.
- Rackspace Technology (RXT) shares rise. The IT company said it signed a definitive agreement with Advanced Micro Devices for the phased deployment of 30 MW of AMD-based compute across Rackspace’s global data centers.
- Netflix (NFLX) shares drop. Semafor reported that the streaming giant lost out to Fox in its pursuit of Roku. Netflix is also one of a number of companies interested in buying Lionsgate, although it hasn’t put in a formal indication of interest, Semafor says, citing a person familiar with the matter.

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