SpaceX shares rise after $60B all-stock deal to buy Cursor

SpaceX agreed to acquire AI coding startup Cursor in an all-stock transaction that values the company at $60 billion, according to a Form 8-K filed with the SEC on June 16.

The filing says SpaceX exercised an exclusive option obtained in April to acquire Anysphere, Cursor’s parent, or pay a $10 billion breakup fee. After exercising the option, SpaceX signed a merger agreement with Anysphere and its subsidiary X67 to make Cursor a wholly owned unit. The acquisition is expected to close in the third quarter of 2026, subject to regulatory approval. Anysphere shareholders will receive SpaceX Class A stock based on the company’s average share price over the seven trading days before closing.

SpaceX posted on X that it exercised the option to acquire Cursor in an all-stock transaction and that SpaceXAI has been jointly training a model with Cursor that will be released in Cursor and Grok Build. Cursor posted on X that it is joining SpaceX and that users should expect significant improvements to the product.

SpaceX completed a public offering last week. Its shares have risen since the IPO, trading above $200 after the acquisition announcement and reaching about $210 at their highest point.

A confidential April 2026 filing by SpaceX states the company views AI as a major growth opportunity, citing potential markets of as much as $2.4 trillion for AI infrastructure and $22.7 trillion for enterprise applications. The filing says the purchase will support SpaceX’s AI development and infrastructure efforts.

Founded in 2022 as Anysphere, Cursor develops developer tools for generative AI coding and agent-driven workflows. Earlier this year Cursor released Cursor 3, described by the company as a unified workspace for building software with agents. Before the agreement, Cursor had been pursuing a reported $2 billion funding round that would have valued the company at roughly $50 billion.

Cursor’s technology has drawn scrutiny over agent safety. In April, Jeremy Crane, founder of PocketOS, alleged that an AI agent powered by Cursor deleted his startup’s database in nine seconds and described how the incident occurred. The filing notes technical integration and joint model training are already underway. The transaction remains subject to customary approvals and the final calculation of the stock consideration at closing.