SpaceX has agreed to acquire Anysphere, the company behind AI coding platform Cursor, in an all-stock transaction valued at $60 billion. The agreement comes four days after SpaceX began trading publicly and is expected to close during the third quarter of 2026.
Cursor will become a wholly owned SpaceX subsidiary after the transaction receives regulatory and shareholder approvals. Its investors will receive SpaceX Class A shares based on the company’s average closing price during the seven trading days before completion.
Cursor Will Support SpaceX’s AI Business
SpaceX plans to integrate Cursor with its AI division, which includes xAI and the Grok chatbot. The acquisition gives the company an established coding platform, enterprise customers, software engineers, and data that could support the development of its AI models.
SpaceX and Cursor began working together before the acquisition. In April, they agreed to develop a coding and knowledge-work model while Cursor gained access to computing capacity from xAI’s data centres.
That agreement gave SpaceX the option to purchase Cursor for $60 billion or pay $10 billion under an alternative partnership arrangement. SpaceX disclosed the option in its official IPO roadshow presentation.
The companies have been jointly developing a model expected to become available through Cursor and Grok Build. SpaceX said the acquisition would strengthen its position in enterprise AI, where it competes with companies including OpenAI, Anthropic, Google, and Microsoft.
Deal Follows Cursor’s Rapid Growth
Founded as Anysphere in 2022, Cursor develops an AI coding agent that helps users write, edit, and understand software. The startup participated in OpenAI’s accelerator before raising capital from investors including Andreessen Horowitz, Thrive Capital, Accel, Coatue, Nvidia, and Google.
Cursor raised $900 million at a $9.9 billion valuation in June 2025. Five months later, it completed a $2.3 billion Series D round at a $29.3 billion post-money valuation.
Before agreeing to the SpaceX acquisition, Cursor was reportedly preparing to raise another $2 billion at a valuation of around $50 billion. SpaceX’s offer therefore values the startup at more than double its valuation from November 2025.
SpaceX Expands After Record IPO
SpaceX completed its Nasdaq debut on June 12 at $135 per share and reached a valuation above $2 trillion after its first trading session. Its shares later climbed above $200 during pre-market trading on Tuesday.
The company presented AI as a major part of its future business during the IPO process. Its investor materials estimated a $2.4 trillion opportunity in AI infrastructure and a further $22.7 trillion in enterprise applications.
Featured image credits: IcoSix
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