SpaceX Acquires AI Coding Powerhouse Cursor in a Monumental $60B All-Stock Deal
In a standout tech deal of 2026, SpaceX officially announced its acquisition of Cursor—the AI-driven coding assistant created by San Francisco-based startup Anysphere. This all-stock deal, valued at a whopping $60 billion, comes on the heels of SpaceX’s record-breaking Nasdaq IPO, which raised $75 billion, setting a new record for the largest initial public offering in history.
Cursor has gained immense popularity with its tool that aids software developers in generating, editing, and reviewing code using artificial intelligence. By June 2026, the platform was generating an impressive $2.6 billion in annualized business-to-business revenue, showcasing the significant role AI coding tools have come to play in enterprise workflows. Founded in 2022, Cursor had previously raised a $900 million Series C in 2025 before this acquisition took the global headlines by storm.
As per the deal’s terms, each Cursor share will be converted into SpaceX Class A common stock, with no cash changing hands—effectively making Cursor shareholders into SpaceX shareholders. The acquisition is slated to close in Q3 2026, subject to regulatory approval. SpaceX’s AI division (formerly xAI, which merged with SpaceX earlier this year) has been collaboratively training a model with Cursor for several months, leveraging xAI’s Colossus supercomputing infrastructure based in Memphis, Tennessee. Following the announcement, SpaceX shares saw a significant jump of approximately 16%.
Source: CNBC — SpaceX to acquire the AI coding startup Cursor for $60 billion