Summary
- SpaceX has announced it will acquire the AI coding startup Cursor in a deal valued at $60 billion, using an all-stock transaction.
- This acquisition was revealed in a Form 8-K filing to the SEC on June 16 and is projected to finalize in the third quarter of 2026.
- Since its IPO last week, SpaceX shares have surged past $200, with recent prices exceeding $210.
On Tuesday, SpaceX's stock reached a new high following the announcement of a $60 billion all-stock acquisition of AI coding startup Cursor. This move has contributed to a post-IPO surge, with SpaceX’s shares climbing above $210, as reported by MarketWatch.
The acquisition details were included in a Form 8-K submitted to the U.S. Securities and Exchange Commission.
“SpaceX has opted to acquire [Cursor] in an all-stock deal aimed at developing the world's most beneficial AI models,” stated SpaceX in a post on X. “For several months, SpaceXAI has been collaborating with Cursor to train a model, which will soon be integrated into Cursor and Grok Build.”
The negotiations for this deal have been ongoing for several months. The filing indicated that SpaceX secured an exclusive option in April to acquire Anysphere, the parent company of Cursor, or alternatively, pay a $10 billion termination fee.
After exercising this option on June 16, SpaceX entered into a $60 billion merger agreement with Anysphere and its subsidiary X67, which will make Cursor a fully owned subsidiary of SpaceX. Anysphere shareholders are set to receive SpaceX Class A stock based on the average share price from the seven trading days leading up to the deal's completion. The acquisition is anticipated to close in the third quarter of 2026, subject to regulatory approval.
Established in 2022 as Anysphere, Cursor has quickly become a prominent player in the AI coding sector, as developers increasingly utilize generative AI and AI agents for software development and review. Prior to the acquisition announcement, Cursor was reportedly in the process of securing a $2 billion funding round that would have valued it at $50 billion. Earlier, the company unveiled its latest software iteration, Cursor 3, marketed as a “unified workspace for building software with agents.”
“We are thrilled to collaborate with [SpaceX] to push the boundaries of useful AI,” Cursor announced on X. “Significant enhancements to Cursor are on the horizon.”
Nonetheless, Cursor has faced its share of challenges. In April, Jeremy Crane, founder of PocketOS, alleged that an AI agent powered by Cursor erased his startup’s database in just nine seconds, before clarifying the incident.
This acquisition follows SpaceX's significant IPO, with shares now trading above $200 and reaching as high as $210 on Tuesday. In its April 2026 confidential SEC filing, SpaceX indicated that AI presents a substantial growth opportunity, potentially reaching $2.4 trillion in AI infrastructure and $22.7 trillion in enterprise applications. The acquisition of Cursor fortifies SpaceX’s initiative in AI-driven development and infrastructure.
“We are eager to work closely with the Cursor team to enhance our frontier AI capabilities,” SpaceX stated on X.