SpaceX shares surged past $210 following the announcement of a $60 billion all-stock acquisition of AI coding startup Cursor. The deal, disclosed in a June 16 SEC filing, values Cursor at $60 billion and is expected to close in Q3 2026. SpaceX stated the acquisition aims to build the world’s most useful AI models, with a jointly trained model set for release in Cursor and Grok Build. The move comes shortly after SpaceX’s historic IPO, extending a post-listing rally.
SpaceX shares climbed above $210 after announcing a $60 billion all-stock deal to acquire Cursor, according to MarketWatch. The acquisition was disclosed in a Form 8-K filed with the SEC.
The company stated the goal is “building the world’s most useful AI models.” “For the past few months, SpaceXAI has been jointly training a model with Cursor, which will be released in Cursor and Grok Build soon,” the company added.
SpaceX secured an exclusive option to acquire Anysphere, Cursor’s parent company, in April. Exercising the option triggered a $60 billion merger agreement, as detailed in the SEC filing.
The acquisition is expected to close in the third quarter of 2026, pending regulatory approval. Anysphere shareholders will receive SpaceX Class A stock based on the company’s average share price prior to the deal’s close.
Cursor, founded in 2022, was reportedly raising a $2 billion funding round valuing it at $50 billion prior to the deal. The startup recently launched Cursor 3, described as a unified workspace for building software with agents.
“We’re excited to join forces with [SpaceX] to advance the frontier of useful AI,” Cursor wrote. “Expect significant improvements to Cursor soon.”
The company has faced controversy, including an incident where an AI agent powered by Cursor allegedly deleted a startup’s database. The acquisition strengthens SpaceX’s push into AI, which it cited as a major growth opportunity in its IPO filing.
