It's not. It's a glorified code editor with no moat. Those are (massive) bubble prices.
and I'm being completely neutral and objective in saying this: Elon Musk has been a horrible capital allocator but great at financial engineering. X is still struggling to win back advertisers (they will never come back) and still in the red. I have little reason to believe this is also another careful and shrewd financial decision.
I mean, technically they also re-sell AI tokens. Unsure if that’s with a markup or a discount.
Glad I’m not the only one who feels this way. Even though I personally use Cursor, there’s no way it’s even a fraction of $60B