SpaceX stock climbed more than 10% in premarket trading Tuesday before the Cursor deal broke, and was trading at $203.40 — up 5.64% from Monday’s close — after the announcement.
Space Exploration Technologies Corp., SPCX
SpaceX filed with the SEC on Tuesday confirming it will acquire Anysphere, Inc., the company behind popular AI coding assistant Cursor, in a $60 billion deal. Anysphere will become a wholly owned subsidiary of SpaceX.
The company expects the merger to close during Q3 2026.
SPACEX TO ACQUIRE CURSOR IN $60B ALL-STOCK DEAL$SPCX announced it will acquire Anysphere, the company behind AI coding tool Cursor, in an all-stock transaction valuing Cursor at $60B.
Cursor will become a wholly owned SpaceX subsidiary.
Expected close: Q3 2026, pending… pic.twitter.com/lVv7098BlM
— Wall St Engine (@wallstengine) June 16, 2026
This wasn’t entirely out of left field. Back in April, SpaceX had already announced a partnership with Cursor focused on “coding and knowledge work AI.” At the time, SpaceX reserved the right to either pay $10 billion for the collaboration or buy the company outright for $60 billion. It’s going with the latter.
Cursor has been on a tear. The tool hit $4 billion in annualized revenue earlier this month, according to Forbes. As recently as April, Cursor was reportedly in advanced talks to raise $2 billion from investors at a valuation of over $50 billion — before any acquisition premium.
Its existing backers include Accel, Thrive Capital, Coatue, Nvidia, and Alphabet’s Google.
SpaceX’s AI unit, xAI’s Grok chatbot, has struggled to keep pace with AI coding tools from Anthropic and OpenAI. Grok has lost ground to Claude this year as Anthropic’s platform gained momentum largely off the back of its coding tools.
Picking up Cursor gives SpaceX a product that developers are already using at scale.
SpaceX listed on the Nasdaq on June 12 in a record-breaking IPO that raised more than $85 billion, valuing the company at over $2 trillion at debut. The stock rose nearly 20% on Monday alone, pushing SpaceX’s market cap to $2.5 trillion and making it the sixth most valuable company in the world.
CEO Elon Musk posted on X over the weekend that SpaceX “might be able to reach approximately” $1 trillion in revenue by 2030.
Cursor sits alongside tools from Anthropic and OpenAI in a fast-growing category where developers are choosing AI-powered assistants to automate software development.
SpaceX is now putting $60 billion behind its bet that owning one of those tools outright is better than trying to build from scratch.
Musk’s SpaceX went public less than a week ago, and it’s already making one of the largest AI acquisitions on record.
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