This is wild. Cursor hit $2.7 billion ARR last month. The quarter that ended in January, their gross margin was NEGATIVE 23% ❗️ That means for every dollar of revenue, Cursor paid Anthropic and OpenAI $1.23 in API costs. At a $2 billion run rate, that's nearly $2.5 billion a year in cost of goods on software that can't raise prices without losing developers to free alternatives. This is the context for the deal Cursor signed with SpaceX on Tuesday. SpaceX announced it has the option to buy…