SpaceX Strikes Deal To Buy Cursor For $60 Billion
SpaceX Strikes Deal To Buy Cursor For $60 Billion
Publish Date: 2026-06-16 07:11:00
Source Domain: www.forbes.com
Topline
SpaceX announced it will acquire the AI coding platform Cursor for $60 billion, days after Elon Musk’s rocket company made a blockbuster public debut that boosted its market cap past $2.5 trillion.
SpaceX’s acquisition announcement comes just days after it made its public market debut with a record breaking IPO.
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Key Facts
In a Securities and Exchange Commission filing, SpaceX said it will acquire Cursor’s parent company, Anysphere, Inc., which will become a wholly owned subsidiary of the rocket company.
SpaceX said it expects to close the merger by the third quarter of 2026.
In April, SpaceX announced a partnership with Cursor, saying the two companies are working together on “coding and knowledge work AI.”
The rocket company said at the time it reserved the right to either pay Cursor $10 billion for the collaboration or outright buy the company for $60 billion.
SpaceX’s artificial intelligence division, xAI’s Grok chatbot, has failed to compete with AI coding tools from rivals like Anthropic’s Claude Code and OpenAI’s Codex—and the Cursor acquisition is likely an effort to make it more competitive.
Grok has fallen behind Claude’s market share this year as Anthropic’s platform has been boosted by the success of its AI coding tools.
Key Background
SpaceX made its trading debut last week with a record breaking IPO that raised more than $85 billion and valued the company at more than $2 trillion. The blockbuster debut helped founder and CEO Musk become the world’s first ever trillionaire. The stock continued to soar on Monday, rising nearly 20% and ending the day with SpaceX as the sixth most valuable company in the world with a $2.5 trillion market cap.
How Has The Market Reacted To The Cursor Deal?
SpaceX’s stock continued to soar in premarket trading early on Tuesday, rising more than 10% before the Cursor deal was announced. The rocket company’s shares have pared some gains since the deal’s announcement and are…
