Fresh off its historic initial public offering, SpaceX announced on Tuesday, that it has entered a definitive agreement to acquire Anysphere Inc., the San Francisco-based startup behind the popular artificial intelligence coding assistant Cursor, in an all-stock transaction valued at $60 billion.
This acquisition accelerates the aerospace company’s footprint in the enterprise AI market. SpaceX, which merged with Elon Musk’s xAI venture in February, now intends to use the acquisition to bolster its Grok AI ecosystem, an area where the firm has historically lagged behind industry rivals like OpenAI and Anthropic.
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Wall Street responded to the announcement with significant optimism. SpaceX shares, which are trading under the Nasdaq ticker SPCX, climbed following the news. The post-IPO rally pushed SpaceX’s market capitalization past Amazon to top $2.8 trillion, making it the fifth-most valuable public company on Earth and cementing Musk’s status as the world’s first trillionaire.
The transaction finalizes a strategic option, SpaceX disclosed in April, which gave the company the right to either purchase the software startup for $60 billion or pay $10 billion for a collaborative partnership. According to regulatory filings, Cursor common and preferred stock will convert into SpaceX Class A common stock based on a volume-weighted average closing price. The deal is expected to officially close during the third quarter of 2026, subject to regulatory approvals.
For Cursor, the merger resolves severe computing shortages that have previously constrained its growth. By joining SpaceX, Cursor will gain direct access to xAI’s Colossus supercomputer cluster in Memphis, Tennessee, which houses a massive array of AI chips.
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Cursor, founded in 2022, has been at the forefront of the “vibe coding” trend, a phenomenon where software engineers autonomously generate computer programming code using conversational language. The platform brings a lucrative enterprise customer base that includes major tech corporations like Adobe , Stripe , and Nvidia Corporation, generating approximately $2.6 billion in annualized business-to-business revenue.
Industry analysts note that while the $60 billion purchase underscores an aggressive, high-burn strategy for SpaceX — which posted more than $9 billion in losses across 2025 and 2026 due to heavy capital investments in rocket manufacturing and Starlink, it establishes an immediate hold in the AI developer space. By absorbing a previously model-agnostic layer into a captive asset, SpaceX secures direct access to developer mindshare in the modern AI arms race.