SpaceX exercises option to buy Cursor for USD60b
Make us a preferred source
Make us a preferred source on Google
The news: SpaceX will buy Cursor parent Anysphere for USD60 billion ($84.9 billion) in an all-stock deal, the company said, moving to close the gap with AI coding rivals days after its IPO.
The deal is expected to help xAI, which SpaceX acquired in February, catch up to rivals including Anthropic and OpenAI. It comes after SpaceX had in April unveiled an option to either buy Cursor for USD60 billion or pay USD10 billion for a partnership.
The numbers: As part of the deal, which is expected to close in the third quarter of 2026, Cursor will receive USD60 billion worth of SpaceX stock.
Founded in 2022 by four MIT graduates, Cursor’s annualised revenue hit USD3 billion in late April, according to Bloomberg.
SpaceX would pay a termination fee of USD10 billion if the deal collapses under specific circumstances and USD4 billion if it fails due to antitrust issues, according to the company’s regulatory filing.
SpaceX shares were trading 11.8% higher on Tuesday noon in New York, taking gains close to 50% since listing.
