HEY, BIG SPENDER: SpaceX locks in $60 billion Cursor deal to power AI coding push.
Elon Musk’s SpaceX said on Tuesday it would acquire Anysphere, the software firm behind the popular AI coding agent Cursor, for $60 billion, in a bid to ramp up its presence in the enterprise AI market.
The announcement comes days after Musk took the rockets-to-AI company public in a blockbuster Nasdaq debut that valued the firm at more than $2 trillion and immediately made it one of the world’s most valuable companies.
SpaceX had been eyeing Cursor for several months. The company said in April it had secured an option to either acquire the San Francisco-based company for $60 billion later this year, or pay $10 billion for a new partnership.
The deal could give xAI, the Grok chatbot maker that SpaceX merged with in February, a stronger foothold in the AI coding market where it has so far lagged rivals. It would also provide Cursor with more computing capacity to develop AI models.
SpaceX’s shares were up nearly 10% in premarket trading, on track to add about $247 billion to its market capitalization of $2.53 trillion. At $211.27, the stock has climbed more than 56% from its IPO price of $135.
If the gains hold, SpaceX is set to overtake Amazon in value to become the fifth-largest company.
Anysphere was valued at $50 billion in March.