SpaceX acquires Cursor for $60B in all-stock deal, two days after IPO
SpaceX formally agreed to buy Anysphere, the company behind AI coding tool Cursor, for $60B in stock, closing the deal just two trading days after its record IPO. The transaction is expected to close in Q3 2026 and gives Cursor's investors SpaceX stock rather than cash.
The deal aims to help xAI catch up to Anthropic's Claude Code and OpenAI's Codex, areas where Musk has openly complained xAI lags. Cursor gains access to SpaceX's chip stockpile while xAI absorbs engineering talent after losing dozens of staff in recent months. Bill Ackman called the high-valuation stock a powerful M&A currency: the acquisition cost less than a tenth of SpaceX's market-cap gain since listing.
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