SpaceX has agreed to acquire Anysphere, the company behind the AI coding agent Cursor, for $60 billion in shares, the Elon Musk-led rocket company announced Tuesday.
The acquisition comes less than a week after SpaceX began trading on the Nasdaq stock exchange in what was the biggest initial public offering in history. The company raised $85.7 billion in the IPO, which valued it at more than $2 trillion. The listing made Musk the world’s first trillionaire, according to reports.
Under the deal, SpaceX will pay Cursor’s shareholders with $60 billion worth of SpaceX shares. The companies had been partners since April, when SpaceX announced it had the right to either buy the start-up for $60 billion or pay $10 billion for the work they had done together. SpaceX said the acquisition would be completed by the end of September.
Cursor is an AI coding agent that automates the process of writing software, placing it in the same category as tools from OpenAI and Anthropic. It is used by companies including Stripe, Adobe and Nvidia. Nvidia CEO Jensen Huang has described Cursor as his “favourite enterprise AI service,” according to the company.
The tie-up is part of Musk’s effort to grow SpaceX’s AI business and catch up with rivals. Announcing the April partnership, SpaceX said the combination of Cursor’s product and distribution with SpaceX’s Colossus supercomputer — which the company has described as a “million H100 equivalent” system — would allow it to accelerate its work in artificial intelligence.
SpaceX shares have surged almost 50% from their $135 IPO offer price, including a strong first full day of public trading. On the date of the acquisition announcement, the tech-heavy Nasdaq Composite Index stood at 26,683.94.
SpaceX’s valuation is largely driven by optimism about its future earnings potential rather than demonstrated financial results. The company is not currently profitable and lost more than $9 billion in 2025 and through 2026 so far, according to its financial filings, due to heavy spending on AI and other infrastructure investments.
The core of SpaceX’s business remains the manufacture and launch of rockets with reusable parts. The company also builds and operates Starlink internet satellites. Through its year-long acquisition of xAI, another company Musk owned and operated prior to the IPO, SpaceX entered the AI business. The purchase of Cursor extends that push.