SpaceX Moves to Acquire Cursor Parent for $60 Billion After IPO

SpaceX filed documents indicating it will exercise its right to purchase Anysphere, the parent of AI coding tool Cursor, for $60 billion in stock. The move comes days after the company's record IPO and positions its AI efforts to compete more directly in enterprise software markets.

The transaction structure originated in an April 2026 agreement. Under that pact SpaceX secured an option to buy Anysphere for $60 billion or pay a $10 billion fee if it declined. An SEC filing dated June 16 states the company expects the purchase to close in the third quarter of 2026, subject to regulatory approvals. Exchange terms tie the number of SpaceX shares to a seven-day volume-weighted average price before closing.

Cursor, founded in 2022, had raised more than $3 billion prior to the SpaceX arrangement and was preparing a $2 billion round at a roughly $50 billion valuation. Its tools automate portions of software development and have drawn users from major AI labs. SpaceX has cited a potential $26 trillion addressable market for AI products in investor materials tied to the IPO.

Two Cursor engineering leaders joined xAI earlier this year, and the startup had already used xAI chips for model training. SpaceX merged xAI into its operations in February. The acquisition would supply additional compute capacity to Cursor while giving SpaceX an established coding product to integrate with Grok.

Other potential buyers had examined Cursor. Microsoft reviewed a possible deal but passed, and OpenAI made two approaches that were declined. Cursor leadership had emphasized remaining independent until the SpaceX option surfaced.

SpaceX stock rose sharply after the IPO, trading above $200 in early sessions from an opening price of $135. The company raised $85 billion in the offering and reached a valuation near $2.5 trillion. The Cursor transaction would represent its first major acquisition since going public.