Just days after its record-breaking IPO, SpaceX has announced its intention to acquire Cursor creator Anysphere for US$ 60 billion in an all-stock transaction. The acquisition forms part of a partnership between SpaceX and Cursor established in April.
Through that partnership, SpaceX could choose to pay US$ 10 billion to work with Cursor or, it could pay US$ 60 billion to acquire Cursor outright. Given the success of its IPO, SpaceX has elected to exercise the latter. The merger will be championed by SpaceX subsidiary X67. Once complete, X67 will become part of Anysphere, which will in turn become a wholly-owned subsidiary of SpaceX.
SpaceX, which owns xAI, became one of the world’s most valuable companies this month on the back of its debut on Nasdaq. With Cursor, SpaceX will move to improve its AI coding assistant, Grok Build, with a view to clawing back enterprise market share from Anthropic and OpenAI. As part of this announcement, SpaceX and Cursor revealed they have been training a model which will be released in Cursor and Grok Build soon.
“We look forward to working closely with the Cursor team to advance our frontier AI capabilities,” SpaceX said in a statement.
Cursor mirrored this sentiment, adding that “significant improvements” would hit the platform in due course.
SpaceX anticipates that the merger will be complete by Q3 2026 once all regulatory conditions have been met. However, should SpaceX terminate the deal of its own accord, Cursor will walk away with up to US$ 10 billion. Should the deal not pass due to antitrust concerns, Cursor will receive US$ 4 billion.
Given the details of this merger, it appears as though SpaceX will not be using funds garnered from its IPO for this incorporation. What isn’t immediately clear is how or even if this merger will impact SpaceX’s compute power agreements with the likes of Anthropic.
Since this announcement, SpaceX’s share price peaked at US$ 212.39, surpassing the US$ 160.95 at which its stock launched last week. This puts the company on track to overtake Amazon as the fifth largest company on the Nasdaq.