SpaceX Shares Hit New High as Elon Musk's Firm Agrees to Acquire AI Startup Cursor for $60 Billion

SpaceX shares deed a caller precocious connected Tuesday aft Elon Musk's institution announced a $60 cardinal all-stock woody to get AI coding startup Cursor, extending a post-IPO rally that has pushed SpaceX's banal supra $210 per share, according to MarketWatch.

The Cursor acquisition was disclosed successful a Form 8-K filed with the U.S. Securities and Exchange Commission.

"SpaceX has exercised the enactment to get [Cursor] successful an all-stock transaction with the extremity of gathering the world's astir utile AI models," SpaceX said successful a station connected X. "For the past fewer months, SpaceXAI has been jointly grooming a exemplary with Cursor, which volition beryllium released successful Cursor and Grok Build soon."

The woody had been successful the works for months. According to the filing, SpaceX secured an exclusive enactment successful April to get Anysphere, the institution down Cursor, oregon wage a $10 cardinal breakup fee.

After exercising that enactment connected June 16, SpaceX signed a $60 cardinal merger statement with Anysphere and its subsidiary X67 that volition marque the AI coding startup a wholly owned SpaceX subsidiary. Anysphere shareholders volition person SpaceX Class A banal based connected the company's mean stock terms implicit the 7 trading days preceding the deal's close. The acquisition is expected to adjacent successful the 3rd 4th of 2026, pending regulatory approval.

Founded successful 2022 arsenic Anysphere, Cursor has emerged arsenic 1 of the starring AI coding platforms arsenic developers progressively follow generative AI and AI agents to constitute and reappraisal software. Before agreeing to the acquisition, the institution was reportedly raising a $2 cardinal backing circular that would person valued it astatine $50 billion. Earlier this year, Cursor announced the latest mentation of its software, Cursor 3 which it described arsenic a "unified workspace for gathering bundle with agents."

"We're excited to articulation forces with [SpaceX] to beforehand the frontier of utile AI," Cursor wrote connected X. "Expect important improvements to Cursor soon."

However, Cursor has not been without controversy. In April, PocketOS laminitis Jeremy Crane claimed an AI cause powered by Cursor deleted the startup's database successful 9 seconds, earlier explaining however it happened.

The woody comes days aft SpaceX's historical IPO, with shares rising supra $200 and reaching arsenic precocious arsenic $210 connected Tuesday. In its April 2026 confidential filing with the SEC, SpaceX said that AI represents a large maturation opportunity, reaching arsenic precocious arsenic $2.4 trillion for AI infrastructure and $22.7 trillion for endeavor applications. The Cursor acquisition strengthens SpaceX's propulsion into AI-powered improvement and infrastructure.

"We look guardant to moving intimately with the Cursor squad to beforehand our frontier AI capabilities," SpaceX said connected X.