SpaceX Announces $60 Billion Deal for Cursor
SpaceX said Tuesday it has signed a formal agreement to acquire Cursor, the AI coding startup owned by Anysphere, in an all-stock transaction valued at $60 billion. The deal follows SpaceX’s recent Nasdaq debut, described in the source material as the largest IPO on record, and marks another step in the company’s expansion beyond aerospace into artificial intelligence.
Cursor, founded in 2022, develops software that helps programmers generate, edit and review code using AI. The company reported surpassing $1 billion in annualized revenue in November and ranked No. 37 on CNBC’s 2026 Disruptor 50 list. SpaceX said the purchase price will be paid in Class A common stock, representing about 3.4% dilution based on its IPO valuation.
Investors reacted positively to the announcement. SpaceX shares rose about 16% Tuesday, pushing the company’s market value above Amazon and Microsoft and making it the fourth most valuable U.S. company, according to the report.
The acquisition follows SpaceX’s earlier merger with xAI, another Elon Musk-led company. The Cursor deal is expected to strengthen SpaceX’s position in AI coding tools, where it competes with companies including Anthropic and OpenAI. However, SpaceX has not released detailed information about Cursor’s customers, current momentum or revenue trends. Spending data from Ramp cited in the report shows Cursor’s market share declined from 41% in June 2025 to about 26% in May, while Anthropic held about half the category.
The transaction is expected to close in the third quarter, pending regulatory approvals. SpaceX previously disclosed that if the acquisition does not close, it could owe Cursor a $1.5 billion termination fee plus $8.5 billion in computing resources.
SpaceX said it looks forward to working with Cursor to advance frontier AI capabilities.