SpaceX Buys AI Coding Startup Cursor for $60 Billion Days After Record IPO

SpaceX has agreed to acquire Anysphere, the parent company of AI coding tool Cursor, in a $60 billion all-stock transaction. The deal comes just two trading days after SpaceX completed a record-breaking initial public offering on the New York Stock Exchange.

SpaceX priced its IPO at $135 per share on June 12, 2026, selling approximately 555 million shares and raising roughly $75 billion. As of Tuesday, the stock had climbed more than 56% to around $211, briefly pushing SpaceX past Amazon and Microsoft to become the world's fourth-largest publicly traded company by market capitalization.

A $60 Billion All-Stock Deal for AI Capabilities

The acquisition follows a partnership announced in April 2026, when SpaceX and Cursor said they would work “closely together to create the world’s best coding and knowledge work AI.” Under that earlier agreement, SpaceX secured the right to acquire Cursor for $60 billion or pay $10 billion for continued collaboration. Cursor is best known for its AI-powered code editor and autonomous coding agents that assist software engineers.

SpaceX plans to combine Cursor's product and distribution with its own Colossus training supercomputer, which it describes as having the equivalent of one million H100 GPUs. The deal is expected to close in the third quarter of 2026.

• Deal value: $60 billion, all-stock.
• Expected closing: Q3 2026.
• April 2026 partnership gave SpaceX acquisition rights.
• SpaceX's market cap: surpassed Amazon and Microsoft post-IPO.

Integrating Cursor to Revive xAI

The Cursor acquisition is widely seen as an attempt to strengthen SpaceX's AI division, xAI, which Elon Musk acquired from his own portfolio earlier in 2026. xAI has struggled: all of its non-Musk co-founders have left, and SpaceX disclosed in its IPO filing that xAI's Grok chatbot is under investigation in the United States and internationally over allegations that its AI tools were used to generate nonconsensual deepfakes of minors.

Musk posted on X in March that “xAI was not built right first time around, so is being rebuilt from the foundations up,” and later brought in a Cursor engineer to help. The Cursor deal gives SpaceX a direct line to a proven AI coding platform, allowing it to compete more effectively with OpenAI and Anthropic, both of which are expected to pursue their own public offerings. SpaceX's rapid moves after its IPO signal an aggressive push to monetize its high stock valuation and convince investors it can capture a portion of the $28.5 trillion total addressable market it outlined in its S-1 filing, with $26.5 trillion attributed to AI.