Key facts
- SpaceX will acquire Anysphere, the operator of the AI coding tool Cursor, for $60 billion.
- The acquisition is structured as an all-stock merger.
- Cursor has $2 billion in annualized revenue and a user base of elite software engineers.
- The merger is expected to close in the third quarter of 2026, subject to regulatory approvals.
- SpaceX stock saw a significant surge following the announcement.
Elon Musk's SpaceX announced on June 16 that it will acquire Anysphere, the company behind the AI coding tool Cursor, in an all-stock transaction valued at $60 billion. The merger agreement, entered into by SpaceX, its subsidiary X67 Inc, and Anysphere Inc, will make Cursor a wholly owned subsidiary of SpaceX. The transaction is contingent upon the satisfaction or waiver of closing conditions, including regulatory approvals, and is anticipated to conclude in the third quarter of 2026.
Cursor, which boasts $2 billion in annualized revenue and a user base of elite software engineers, is seen as a significant player in the AI coding space, competing with firms like OpenAI and Anthropic. Earlier in April, SpaceX had shown interest in acquiring Anysphere, with a reported $10 billion termination fee if the deal had fallen through, signaling strong commitment.
Following the announcement, SpaceX stock (SPCX) experienced a substantial surge, closing up 19.60% on Monday and continuing to climb in overnight and premarket trading. This surge saw SpaceX overtake Amazon as America's fifth-largest company. CNBC host Jim Cramer commented on the stock's rapid ascent, likening it to a meme stock.