SpaceX expands AI dominance with acquisition of Anysphere, creator of Cursor, for US$60 billion
SpaceX announced this Tuesday, June 16, the acquisition of Anysphere, the software company responsible for the renowned artificial intelligence coding agent, Cursor. The transaction, valued at US$60 billion, aims to significantly strengthen the performance of Elon Musk’s company in the growing business AI market.
This announcement comes just days after SpaceX held its successful initial public offering (IPO) on Nasdaq, in a move that valued the rocket and artificial intelligence company at more than US$2 trillion, instantly positioning it among the most valuable companies globally.
SpaceX had already been tracking the Cursor for several months. The company had announced in April that it had secured an option to acquire the San Francisco-based company for US$60 billion later this year, or, alternatively, pay US$10 billion to seal a new strategic partnership.
This agreement has the potential to significantly strengthen the presence of xAI, the maker of the Grok chatbot, which merged with SpaceX in February, in the artificial intelligence coding market, an area where the company is still seeking greater prominence. Additionally, the transaction should provide Cursor with expanded computing capacity for the development of its AI models.
SpaceX shares rose almost 10% in pre-market trading, projecting an addition of approximately US$247 billion to its market value, which has already reached US$2.53 trillion. Each share was priced at US$211.27, representing an appreciation of more than 56% compared to the US$135 price of its initial public offering.
If these valuations continue, SpaceX is positioned to surpass Amazon in market value, consolidating itself as the fifth largest company in the world.
Alongside the likes of OpenAI and Anthropic, Cursor stands out as one of the Silicon Valley startups that has attracted large numbers of developers by employing artificial intelligence to automate coding processes, a segment where AI companies have found strong early commercial momentum.
Cursor’s business has seen accelerated expansion since its founding in 2022, reaching approximately $2.6 billion in annualized B2B sales revenue and notable growth in sales to enterprises, according to company data shared with Reuters earlier this month.
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With support from prominent Silicon Valley venture capital names such as Andreessen Horowitz and Thrive, as well as Nvidia and Alphabet’s Google, Cursor was reportedly in talks for a funding round earlier this year that valued it at $50 billion.
The deal, expected to close in the third quarter of 2026, is structured as an equity-based merger between Anysphere, Cursor’s parent company, and SpaceX’s wholly-owned subsidiary, X67. This model indicates that the capital raised in SpaceX’s IPO will not be used to finance this operation.
If the agreement is terminated under certain conditions, SpaceX must pay a termination fee of US$10 billion, as detailed in a regulatory document.
The same regulatory document informs that SpaceX will bear a “regulatory” termination fee of US$4 billion if the transaction does not go through for reasons of antitrust issues.
It was not immediately clear whether the acquisition will impact SpaceX’s agreements to lease its data centers. The company recently signed contracts with Anthropic and Google to lease cloud computing capacity, totaling approximately US$26 billion annually.
Both agreements include 90-day termination clauses, allowing SpaceX to quickly reclaim computing capacity should the need arise.
