SpaceX Shares Hit New High as Elon Musk's Firm Agrees to Acquire AI Startup Cursor for $60 Billion
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- SpaceX agreed to acquire AI coding startup Cursor (Anysphere) in a $60 billion all-stock deal disclosed in a June 16 SEC Form 8-K filing, expected to close in Q3 2026 pending regulatory approval
- Anysphere shareholders will receive SpaceX Class A stock based on the average share price over the seven trading days preceding the deal's close
- SpaceX had secured an exclusive option in April to acquire Anysphere or pay a $10 billion breakup fee, which it exercised on June 16
- Cursor was in the process of raising a $2 billion funding round at a $50 billion valuation before the SpaceX acquisition was announced
- SpaceX shares rose above $200 and reached as high as $210 on Tuesday, extending a post-IPO rally after going public the previous week
- SpaceX and Cursor have been jointly training a model that SpaceX said will be released in Cursor and Grok Build
- In April, PocketOS founder Jeremy Crane claimed an AI agent powered by Cursor deleted the startup's database in nine seconds, a controversy the article flags
Why it matters: Cursor was on track for a $2 billion raise at a $50 billion valuation but accepted a $60 billion all-stock acquisition from SpaceX, a 20% jump paid in shares. The deal extends SpaceX's post-IPO rally with shares hitting $210, and SpaceX's own April 2026 SEC filing cited AI infrastructure as a $2.4 trillion opportunity, framing the acquisition as part of that strategy.
