Token offer + Cursor bought for $60B

Happy Tuesday Brex Community,

It’s official as of this morning, newly IPO’d SpaceX is going to be buying Cursor for $60B in an all stock deal !

A couple of interesting things.

SpaceX was the largest IPO of all time , it just took place on Friday and now Cursor is the largest VC backed acquisition of all time, two mega deals coming together in the just a few days, wow. 2026 is going to be an epic year for VCs, LPs, Founders and employee liquidity! We still have a few more expected large IPOs to take place the remainder of the year: OpenAI, Anthropic, Databricks and if I’m Stripe, would push to go out this year as well, while the markets are red hot!

On the Cursor front, the company is only four years old, it started in Cambridge, MA as the founders met in MIT. The early backers of Cursor (aka Anywhere) are going to have a major windfall: Neo, OpenAI Startup Fund, Dorm Room Fund, Thrive, a16z, congrats to the them!

Have a great week!

Shai Goldman

Concentrate AI recently raised a $5M pre-seed round, has gone live and now has an offer to share for the Brex startup community.

As a background, Concentrate gives you every model through one API, plus everything you need to run AI in production and stay compliant with state regulations. Failover, spend tracking, logging, and PII filtering. No contracts, no markup, free. No infrastructure to self host. Just pay for tokens.

The problem
Every way to run AI today costs you money. Call providers directly, and one outage takes down production. Use a gateway and you pay a tax on every call, with no data controls. Self-host and you have to manage infrastructure.

The value
The best rates on every model sit behind contracts. We manage those and take that off your plate. You get to leverage the combined spend of every company using Concentrate. Change one line of code and you get every model with no markup, fully managed, with failover, spend tracking, logging, and PII filtering already on.

Offer
Concentrate is free. You only pay for tokens. For Brex newsletter readers: Concentrate match the first $10,000 in credits you buy, dollar for dollar, plus 5% back on your AI spend, for life. Just reach out to claim

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Gutter Capital Triples Down on Early Stage Founders

Venture capital often obsesses over pristine pedigrees, but New York based Gutter Capital is proving that an old school, hands on approach to overlooked talent pays off. The early stage firm just announced the close of its $75 million Fund III, alongside the opening of applications for the second cohort of its startup accelerator, Elbow Grease.

Founded by Dan Teran and James Gettinger, Gutter Capital boasts top quartile performance for its first two funds, with its portfolio companies graduating to Series A and B at twice the industry average. They succeed by backing non-traditional founders and providing heavy operational support, recently expanding their internal team to help portfolio companies recruit talent and ship products faster.

To double down on this approach, their Elbow Grease accelerator offers selected teams a $300,000 initial investment and a ten week, on site residency at their Chinatown headquarters. Instead of optimizing for a shiny demo day, the program focuses on direct, one on one company building alongside seasoned mentors who have successfully scaled past Series B.

Applications for the upcoming fall cohort close on July 31, 2026. For early stage founders willing to put in the work and embed themselves in New York's thriving tech ecosystem, Gutter Capital's new fund and accelerator offer the exact resources needed to build companies of consequence.

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Brex is the intelligent finance platform built for speed and control. Combining corporate cards, banking, treasury, expense management, bill pay, travel, and accounting, Brex helps companies spend smarter and move faster in 120 countries. By integrating AI across every workflow, Brex enables founders and finance teams to eliminate manual work, do more with less, and accelerate impact. More than 35,000 companies from startups to enterprises run on Brex, including Anthropic, OpenAI, Cursor, Granola, ServiceTitan, Robinhood, DoorDash, etc.