SpaceX Shares Rise After $60B Deal to Acquire AI Startup Cursor

On June 16, SpaceX confirmed its agreement to purchase AI coding startup Cursor in an all-stock deal valued at $60 billion. The announcement, made through a filing with the U.S. Securities and Exchange Commission (SEC), coincided with a rise in SpaceX shares, which surpassed $210 following a recent IPO.

SpaceX's decision to acquire Cursor follows months of collaborative work in developing AI models. In their announcement on social media platform X, SpaceX stated, "SpaceX has exercised the option to acquire [Cursor] in an all-stock transaction with the goal of building the world's most useful AI models." The move suggests an ambition to integrate advanced AI capabilities directly into SpaceX's operations.

Prior to the acquisition, Cursor, originally known as Anysphere, had attracted significant attention in the AI sector, particularly for its coding platform. The startup was on track to secure a $2 billion funding round that would have given it a valuation of $50 billion. However, the acquisition shifts this direction significantly. According to the SEC filing, Anysphere shareholders will receive SpaceX Class A stocks at an average share price calculated over the seven trading days leading up to the deal's closing.

The acquisition, while positioning SpaceX as a more formidable player in the AI landscape, awaits regulatory approval before it can finalize in the third quarter of 2026. The financial agreement underscores the growing trend of AI platforms gaining value as more developers adopt generative AI tools for software development.

"We're excited to join forces with [SpaceX] to advance the frontier of AI innovation," said a representative at Cursor during a statement.