SpaceX to acquire Anysphere, maker of Cursor, in all-stock merger
The stock-only $60 billion deal follows SpaceX’s IPO and highlights investor focus on Elon Musk’s long-term AI, Starlink, rocket and data-center ambitions rather than current profitability.
SpaceX said it will acquire AI coding startup Anysphere, the maker of Cursor, in an all-stock deal valuing the company’s equity at $60 billion, with closing expected in the third quarter of 2026. The companies said they plan to train AI models for Cursor and Grok Build, and Cursor CEO Michael Truell said the transaction is aimed at building "the world's most useful AI models." The agreement follows SpaceX’s market debut and comes as investors assess the company at roughly $2.5 trillion to $2.8 trillion, a valuation CNBC said Jim Cramer framed as a bet on Elon Musk’s long-term growth plans in AI, Starlink, reusable rockets and data centers, including a 2030 target of $1 trillion in annual revenue.
- all-stock merger: A merger in which the buyer uses its own shares as consideration instead of paying cash.
- IPO: Initial public offering, when a private company begins trading its shares on a public market for the first time.
- Starlink: SpaceX’s satellite internet network, cited by CNBC as part of the company’s long-term growth case.