SpaceX completes $60 billion acquisition of AI platform Cursor

SpaceX has finally completed its purchase of Anysphere, the company behind the AI coding tool Cursor, on Thursday in an all-stock transaction valued at $60 billion.

Both companies claim no startup has ever been bought for more, with SpaceX continuing its aggressive push into AI software and the industry at large.

Cursor becomes a SpaceXAI subsidiary

The deal, confirmed via an SEC Form 8-K, involved SpaceX issuing about 391 million Class A shares to finalize. Cursor’s outstanding stock was converted into 389.3 million SpaceX shares and additional restricted stock units and options assumed by the buyer.

The coding tool company will run as a wholly owned subsidiary within a completely rebranded division called SpaceXAI. In its own blog post dated August 14, the company stated that the deal was the finish line of a process that started in April, when the startup initially announced a partnership with SpaceXAI to speed up model training.

SpaceX shares, listed on the Nasdaq under the ticker SPCX, saw an increase of 1.5% up to $143.45 after the news. On X, the Cursor account said the team would join SpaceXAI to work on Grok and related products including Grok Build, Grok Bot, and the Grok API.

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