TGIF Monthly Wrap: June 2026
- ICMSS
- Jun 26
- 2 min read
Grab to Acquire Superbank, Google signs deal with SpaceX, Spacex to Acquire Cursor, P2SK Law Enables IDX Ownership.
By Emirsyah Kevin Mecca, Attala Sabian Andhika, Maria Ella Risandra Puruhita, Nashwah Putri Az-Zahra
June 26, 2026 at 16:30 GMT+7
Grab Logo | Source: Gizmologi.id
Grab Holdings has secured majority control of PT Super Bank Indonesia Tbk (SUPA) following Singtel Alpha's divestiture of approximately 2.44 billion shares at Rp327 per share, lifting Grab's combined stake above 50% and triggering full financial consolidation into its financial services segment. Listed in December 2025, Superbank has demonstrated strong operational traction, serving over 6 million customers, processing 1 million daily transactions, and recording 72% year-on-year asset growth to Rp24 trillion alongside its first full-year profit in FY2025. The acquisition strategically advances Grab's regional GXS Bank framework, deepening digital banking integration across Southeast Asia.
SpaceX said Google agreed to pay US$920 million a month for compute capacity | Source: Business Insider
Google signed a US$920 million per month computing agreement with SpaceX, spanning October 2026 through June 2029 and potentially exceeding US$30 billion in total value. SpaceX will provide access to approximately 110,000 Nvidia GPUs alongside supporting infrastructure to power Google's AI operations, including Gemini and enterprise offerings. The deal reflects a broader industry shift toward external infrastructure partnerships as an alternative to building hyperscale data centers. Combined with SpaceX's earlier Anthropic contract, the two agreements are projected to generate approximately US$26 billion in annual revenue for SpaceX, while Google retains full ownership of its AI models and intellectual property.
SpaceX acquires Cursor | Source: Jawlah
SpaceX has agreed to acquire AI coding startup Cursor in a US$60 billion all-stock transaction, marking one of the largest deals in the AI sector to date and a defining strategic move following its Nasdaq listing. Founded in 2022, Cursor has surpassed US$1 billion in annualized revenue by developing AI-powered tools that enhance developer productivity through code generation, editing, and review. The acquisition expands SpaceX's presence in high-value AI software beyond its aerospace operations, while access to xAI's computing infrastructure is expected to accelerate Cursor's model development. The deal is anticipated to close in the third quarter of 2026, pending regulatory approval.
IDX | Source: Stockbit Snips
P2SK Law Enables State Institutions to Own IDX Shares
Indonesia's revised Financial Sector Development and Strengthening Law (UU P2SK) permits the Ministry of Finance, Bank Indonesia, and Danantara to become shareholders of the Indonesia Stock Exchange (IDX). The revised Law supports the exchange's ongoing demutualization process while reinforcing institutional backing for the country's capital market. The regulation requires IDX to maintain its institutional independence regardless of state ownership, providing a safeguard against potential conflicts of interest. Despite the legal provision, the Ministry of Finance has clarified that it currently has no plans to acquire IDX shares.
Sources:
Bloomberg
CNBC
IDNFinancial
New York Times
Reuters
Comments