NEW YORK — Shares of SpaceX surged following its recent initial public offering as the company announced a $60 billion all-stock agreement to acquire the AI coding startup Cursor, the parent company Anysphere.
The deal was disclosed on Tuesday through a regulatory filing, days after SpaceX completed its record IPO. Under the agreement, Cursor shareholders will receive SpaceX Class A shares valued at $60 billion, with the transaction expected to close in the third quarter of 2026 subject to approvals.
SpaceX shares rose sharply in trading following the announcement, contributing to the company surpassing certain peers in market value. The stock movement helped offset the cost of the acquisition in an all-stock deal, according to market observers.
The acquisition builds on a partnership announced in April, under which SpaceX had an option to buy Cursor for $60 billion or pay $10 billion for collaboration work. The companies have been jointly training AI models using SpaceX’s Colossus supercomputer.
Cursor, founded in 2022, provides an AI-powered coding tool used by software engineers for code generation and debugging. “The combination of Cursor’s leading product and distribution to expert software engineers with SpaceX’s million H100 equivalent Colossus training supercomputer will allow us to build the world’s most useful models,” SpaceX said in a statement.
The move expands SpaceX’s interests beyond aerospace into enterprise AI tools, a rapidly growing sector. Details on integration plans, including impacts on Cursor’s operations or workforce, were not immediately specified.
SpaceX’s IPO, which raised approximately $75 billion, valued the company at more than $2 trillion at recent trading levels. The stock has shown strong performance in its initial days of public trading.
Analysts noted the deal positions SpaceX to compete more effectively in AI development. No immediate comments were available from regulators or competitors regarding potential antitrust implications.
As of Wednesday, the acquisition remains on track pending customary closing conditions. SpaceX continues to trade under the ticker SPCX on Nasdaq.
