SpaceX’s $60 billion acquisition of AI coding startup Anysphere, the company behind Cursor, could give Elon Musk’s aerospace and technology company another major source of artificial intelligence revenue, according to Morgan Stanley analysts.
Morgan Stanley estimates that Cursor could add about $2.5 billion to SpaceX’s revenue in 2026 and $13 billion in 2027, according to the Yahoo Finance report. The analysts said the acquisition could support a much more bullish valuation case for SpaceX if the coding platform continues its rapid growth.
SpaceX agreed in June to acquire Anysphere in an all-stock transaction valued at $60 billion. Under the deal, Cursor will become a wholly owned SpaceX subsidiary, with the transaction expected to close in the third quarter of 2026, subject to regulatory approvals and other closing conditions.
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The deal follows an option SpaceX secured earlier this year that gave it the choice to acquire Cursor for $60 billion or pursue a separate partnership with the AI company. SpaceX ultimately exercised the acquisition option.
Cursor has emerged as one of the leading AI-powered coding platforms, competing with products from companies including Anthropic and OpenAI. The acquisition gives SpaceX a stronger position in enterprise AI software while providing Cursor access to the computing infrastructure of Musk’s broader technology empire.
The transaction also builds on SpaceX’s integration of xAI, Musk’s artificial intelligence company. SpaceX and Cursor have been working together on AI models, with the companies saying they planned to release a jointly trained model through Cursor and xAI’s Grok Build.
Morgan Stanley’s bullish assessment comes as SpaceX expands beyond its traditional aerospace and satellite businesses. The company has been investing heavily in AI infrastructure and data centers while seeking to build new revenue streams from computing services.
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SpaceX recently reported $7.8 billion in second-quarter revenue, up 92% from a year earlier, while AI revenue reached $2.56 billion, according to recent financial reporting. The company has also projected a $100 billion annualized revenue run rate by the end of 2026.
Morgan Stanley’s analysis suggests that Cursor could become an important part of that expansion. If the AI coding platform maintains its growth trajectory, the acquisition could strengthen SpaceX’s position in the rapidly expanding enterprise AI market.
The $60 billion deal therefore represents more than an expansion into software. It is a major bet that AI coding tools, combined with SpaceX’s computing infrastructure, can become a significant contributor to Musk’s broader technology ambitions.