SpaceX confirmed on June 16 that it will acquire Anysphere - the company behind AI coding agent Cursor - for $60 billion in an all-stock deal, according to Reuters and Business Insider. SpaceX exercised an option secured in April to either buy Cursor at that price or pay $10 billion for a partnership. The merger, expected to close in Q3 2026, will run through SpaceX subsidiary X67 Inc. Reuters reports Cursor had roughly $2.6 billion in annualized B2B revenue. According to Reuters, the deal could strengthen xAI - the Grok chatbot maker that merged with SpaceX in February - in the AI coding market, while giving Cursor access to more compute capacity.
What happened
SpaceX confirmed on June 16 that it will acquire Anysphere, the software firm behind AI coding agent Cursor, for $60 billion in an all-stock transaction, per Reuters and Business Insider. A SpaceX subsidiary called X67 Inc. will merge with Anysphere, making it a wholly owned SpaceX subsidiary. The deal is expected to close in Q3 2026, subject to regulatory approvals.
Background
SpaceX secured an option in April to either acquire Cursor for $60 billion or pay $10 billion for a new partnership. The June 16 announcement confirms SpaceX exercised that option. The deal was announced days after SpaceX's Nasdaq debut, which Reuters reports valued the company at more than $2 trillion.
Deal structure and Cursor's financials
The acquisition is all-stock: Anysphere shareholders receive SpaceX Class A shares based on a $60 billion implied valuation and a seven-day volume-weighted average of SpaceX's pre-close share price. According to company data shared with Reuters, Cursor had roughly $2.6 billion in annualized B2B revenue, with enterprise sales growing sharply.
xAI and compute context: Reuters reports the deal could give xAI - the Grok chatbot maker that SpaceX merged with in February - a stronger foothold in the AI coding market where it has so far lagged rivals like OpenAI and Anthropic. Reuters also notes the acquisition would provide Cursor with more computing capacity to develop AI models. Industry analysis has noted the deal could pair Cursor's IDE and tools with xAI's Colossus infrastructure.
Cloud capacity context
Reuters notes SpaceX recently struck deals with Anthropic and Google to lease cloud computing capacity worth roughly $26 billion combined annually, both with 90-day termination clauses. Whether the Anysphere acquisition affects those agreements was not immediately clear.
What to watch
Key indicators include regulatory approval timeline; any changes to Cursor's API access, pricing, or hosted runtimes under SpaceX ownership; and how xAI integrates Cursor's developer tools with SpaceX compute. Two Cursor product engineering heads departed to SpaceX's lunar projects and xAI in March, an early signal of integration.
Caveats
Public reporting relies on Reuters, Business Insider, and company data shared with Reuters. Direct statements from Cursor's founders on strategic intent have not been published.
Scoring Rationale #
A confirmed $60 billion all-stock acquisition by a newly public SpaceX of one of the fastest-growing AI developer tools is a major consolidation event for the AI/ML industry. The xAI connection, Cursor's $2.6 billion ARR, and potential redirection of compute and API infrastructure make this directly consequential for ML engineers, enterprise buyers, and the broader developer tooling market.
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