SpaceX completes $60 billion acquisition of AI coding startup Cursor

SpaceX has completed its acquisition of Cursor, the AI-powered coding startup, for $60 billion (about €52 billion), marking its first major purchase since going public on June 12. The deal, announced in June, closed on August 14, with Cursor shareholders receiving 389.29 million Class A shares of SpaceX Source: La Vanguardia. The acquisition is part of Elon Musk's strategy to compete with rivals Anthropic and OpenAI in the lucrative AI coding market Source: La República.

Deal details

• The transaction was executed through a SpaceX subsidiary merging with Anysphere, Cursor's parent company Source: Infobae.
• In April, SpaceX secured the right to buy Cursor for $60 billion or pay $10 billion under a collaboration agreement Source: El Español.
• Cursor stated: "With this, the acquisition process that began in April concludes, when we announced our collaboration with SpaceXAI to accelerate the training of our models" Source: Infobae.

Strategic context

Cursor, launched in 2023, helps programmers write and debug code efficiently and has become one of the fastest-growing startups Source: La República. SpaceX and Cursor released their first joint model, Grok 4.5, in July, focusing on coding, finance, and legal tasks Source: La República. Musk told employees in August that the company "must succeed in software" and predicted AI revenue would surpass all other SpaceX revenue by September Source: La República.

Market reaction

SpaceX's stock, which debuted at $135, has barely appreciated, though it peaked at $225; it gained about 3% in the last week Source: La Vanguardia.