SpaceX, the company led by Elon Musk, has agreed to buy Anysphere, the maker of the AI coding agent Cursor, in a deal valued at $60 billion. The acquisition will be paid entirely in stock and is aimed at expanding SpaceX’s presence in the lucrative enterprise AI tools market.
The announcement comes just days after Musk took his rocket and AI company public in a highly successful debut that gave it a market value of more than $2 trillion. The move could also give xAI, the maker of the Grok chatbot and a company that merged with SpaceX in February, a significant foothold in AI-assisted programming, one of the first areas where AI has clearly translated into revenue from business customers.
SpaceX has been pursuing Cursor for months. In April, it disclosed an option to either buy the company later this year for $60 billion or pay $10 billion for a partnership only. According to a regulatory filing, the current transaction will be financed with shares alone and will not use any of the money raised in SpaceX’s IPO. Closing is expected in the third quarter of 2026.
Investors reacted positively, sending SpaceX shares up almost 10% in premarket trading. That increase would add about $247 billion to SpaceX’s $2.53 trillion market value, and at $211.27 per share the stock is more than 56% above the $135 IPO price. If the gains hold, SpaceX would surpass Amazon and become the world’s fifth-largest company. Cursor, founded in 2022 and based in San Francisco, has grown rapidly, with an annualized B2B revenue run rate of about $2.6 billion and strong enterprise sales. Its backers include Andreessen Horowitz, Thrive, Nvidia and Alphabet. The filing also says SpaceX would owe a $10 billion breakup fee in some cases, and a $4 billion regulatory fee if antitrust issues derail the deal. It is still unclear how the acquisition will affect SpaceX’s existing data center leasing arrangements, including recent cloud-computing deals with Anthropic and Google worth a combined $26 billion a year that can be canceled on 90 days’ notice.
