SpaceX has agreed to acquire Anysphere, the San Francisco startup behind the popular AI coding assistant Cursor, in an all-stock deal that values the company at $60 billion, the two firms said Tuesday. The agreement comes just days after SpaceX’s blockbuster Nasdaq debut, which pushed the rocket maker’s valuation above $2 trillion.
Under the merger agreement signed June 16, Cursor will become a wholly owned subsidiary of SpaceX, with the transaction expected to close in the third quarter of 2026. SpaceX had signaled the move in April, ahead of its listing, when it disclosed it would either buy Cursor for $60 billion in stock or pay a $10 billion break-up fee if the deal collapsed.
The acquisition deepens SpaceX’s push beyond rockets and satellites into artificial-intelligence software, pitting it directly against OpenAI and Anthropic in the fast-growing market for AI coding tools. Cursor has become one of the most widely used AI programming assistants, and the company said it had surpassed $4 billion in total annualized revenue as of early June, with roughly $2.6 billion of that coming from enterprise customers.
For SpaceX, the all-stock structure is made possible by the soaring value of its newly public shares. The company surged about 20% in Tuesday trading, extending gains since its Friday IPO to more than 40% and briefly making it one of the most valuable companies in the world by market capitalisation.
The deal is the latest sign of consolidation in the AI tooling sector, where established model developers and a wave of well-funded startups are racing to lock in enterprise customers. Cursor, built on top of large language models, lets developers generate, edit and debug code through natural-language prompts inside their editors.
Bringing Cursor in-house gives SpaceX a foothold in software used by millions of developers and a recurring-revenue business very different from its launch and Starlink operations. Analysts noted that the rocket company’s rapid diversification — from spaceflight to satellite internet and now developer tools — mirrors the conglomerate ambitions of its founder, Elon Musk.
Questions remain about how Cursor’s technology, which relies on models from multiple AI providers, will fit alongside any in-house systems SpaceX chooses to build. The companies did not detail Cursor’s future model strategy, saying only that it would continue to operate and that customers should expect continuity of service.
The transaction is subject to regulatory review. Given the size of the deal and intensifying scrutiny of the AI industry, antitrust regulators in the United States and abroad are likely to examine the tie-up closely before it closes.