One of the more interesting Grok bull cases I heard at ICML was this:

The core idea is that xAI may actually be better positioned than OpenAI Codex in the coding-agent market.
The reason Claude Code is currently leading in coding agents is not just model quality. Claude Code effectively pioneered the category at scale, which gave it one of the largest user pools in the industry. More users mean more real-world coding data. That data can then be used to improve Claude Code’s quality, which attracts even more users, creating a flywheel of more users, more data, and a better product.
Seen through this lens, xAI’s acquisition of Cursor starts to make a lot more sense.
Cursor likely has a much larger real-world user base and coding dataset than Codex. If xAI can effectively train on and leverage that data, the argument is that overtaking Codex may only be a matter of time.
I just saw some reactions to Grok 4.5 on my X timeline, and the feedback seems more positive than I expected.
Is this thesis starting to play out?