SpaceX to Buy Cursor Parent Anysphere in $60 Billion Stock Deal
The all-stock acquisition comes days after SpaceX’s record Nasdaq debut and deepens Elon Musk’s push into enterprise AI.
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Image Credit- Chetan Jha/ MIT Sloan Management Review India
SpaceX on Tuesday announced that it has agreed to buy Anysphere, the startup behind the AI coding tool Cursor, in an all-stock deal valued at $60 billion, moving to strengthen its artificial intelligence business days after its market debut.
The transaction, announced Tuesday, is expected to close in the third quarter, subject to regulatory approvals.
The deal comes less than a week after SpaceX completed its blockbuster Nasdaq debut, widely regarded as the largest initial public offering in history.
The acquisition is expected to bolster the company’s AI capabilities following its merger earlier this year with Elon Musk’s artificial intelligence venture, xAI.
Anysphere, founded in 2022, has become one of the fastest-growing companies in AI software. Its Cursor product helps developers write, edit and review code, and has gained traction among engineers and companies adopting AI-assisted programming.
The acquisition would give SpaceX’s AI business, built around xAI, a stronger position in AI coding, one of the first enterprise AI markets to generate substantial revenue.
SpaceX had already signaled interest in Cursor. In April, the companies announced a partnership that gave SpaceX the right to buy the startup later this year for $60 billion or pay $10 billion for their work together.
Investors welcomed the announcement. Shares of SpaceX rose roughly 16% on Tuesday, lifting the company above Amazon and Microsoft by market capitalization and making it the fourth most valuable publicly traded company in the US.
