In short
- SpaceX agreed to accumulate AI coding startup Cursor in an all-stock deal valuing the corporate at $60 billion.
- The acquisition was disclosed in a June 16 SEC submitting and is predicted to shut within the third quarter of 2026.
- Shares of SpaceX have climbed above $200 for the reason that firm’s IPO final week.
SpaceX shares hit a brand new excessive on Tuesday after Elon Musk’s firm introduced a $60 billion all-stock deal to accumulate AI coding startup Cursor, extending a post-IPO rally that has pushed SpaceX’s inventory above $210 per share, in line with MarketWatch.
The Cursor acquisition was disclosed in a Type 8-Okay filed with the U.S. Securities and Change Fee.
“SpaceX has exercised the choice to accumulate [Cursor] in an all-stock transaction with the purpose of constructing the world’s most helpful AI fashions,” SpaceX stated in a publish on X. “For the previous few months, SpaceXAI has been collectively coaching a mannequin with Cursor, which shall be launched in Cursor and Grok Construct quickly.”
The deal had been within the works for months. In line with the submitting, SpaceX secured an unique possibility in April to accumulate Anysphere, the corporate behind Cursor, or pay a $10 billion breakup payment.
After exercising that possibility on June 16, SpaceX signed a $60 billion merger settlement with Anysphere and its subsidiary X67 that can make the AI coding startup an entirely owned SpaceX subsidiary. Anysphere shareholders will obtain SpaceX Class A inventory primarily based on the corporate’s common share value over the seven buying and selling days previous the deal’s shut. The acquisition is predicted to shut within the third quarter of 2026, pending regulatory approval.
Based in 2022 as Anysphere, Cursor has emerged as one of many main AI coding platforms as builders more and more undertake generative AI and AI brokers to put in writing and overview software program. Earlier than agreeing to the acquisition, the corporate was reportedly elevating a $2 billion funding spherical that will have valued it at $50 billion. Earlier this 12 months, Cursor introduced the newest model of its software program, Cursor 3 which it described as a “unified workspace for constructing software program with brokers.”
“We’re excited to hitch forces with [SpaceX] to advance the frontier of helpful AI,” Cursor wrote on X. “Count on important enhancements to Cursor quickly.”
Nevertheless, Cursor has not been with out controversy. In April, PocketOS founder Jeremy Crane claimed an AI agent powered by Cursor deleted the startup’s database in 9 seconds, earlier than explaining the way it occurred.
The deal comes days after SpaceX’s historic IPO, with shares rising above $200 and reaching as excessive as $210 on Tuesday. In its April 2026 confidential submitting with the SEC, SpaceX stated that AI represents a significant progress alternative, reaching as excessive as $2.4 trillion for AI infrastructure and $22.7 trillion for enterprise purposes. The Cursor acquisition strengthens SpaceX’s push into AI-powered growth and infrastructure.
“We stay up for working intently with the Cursor workforce to advance our frontier AI capabilities,” SpaceX stated on X.
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