Rocket Lab’s $8B acquisition of Iridium gives it more than a satellite network. It gives Rocket Lab spectrum, subscribers and a services layer that would be difficult to build from scratch, making the deal a clear bet on vertical integration in space.

SpaceX’s reported $60B Cursor deal is less about buying an AI coding tool and more about owning the workflow where AI turns into productivity. It points to a new M&A logic: in AI, distribution and usage context may matter as much as the model itself.