{"slug": "spacex-confirms-it-is-buying-ai-coding-startup-cursor-for-60-billion", "title": "SpaceX confirms it is buying AI coding startup Cursor for $60 billion", "summary": "SpaceX announced it is acquiring AI coding startup Cursor for $60 billion, marking its first major acquisition after a record-breaking IPO. The deal, expected to close in Q3 2026, will make Cursor a wholly owned subsidiary of SpaceX. The acquisition follows a partnership between the two companies and comes days after SpaceX raised $85 billion in the largest IPO in history.", "body_md": "SpaceX has announced its first major acquisition after a record-breaking IPO.\n\nElon Musk's rocket company said in a Tuesday filing that it had exercised its option to buy the AI coding startup Cursor for $60 billion, after the two companies [struck a deal](https://www.businessinsider.com/cursor-ceo-michael-truell-spacex-elon-musk-anthropic-2026-6) earlier this year.\n\nSpaceX said the merger with Cursor is expected to close in the third quarter of 2026. It will see the AI startup survive as a \"wholly owned subsidiary\" of SpaceX, and Cursor shareholders will have their shares converted to SpaceX stock.\n\nThe deal caps [Cursor's rapid ascent](https://www.businessinsider.com/cursor-ceo-michael-truell-spacex-elon-musk-anthropic-2026-6) to become one of Silicon Valley's fastest-growing startups. Business Insider's Shubhangi Goel and Charles Rollet reported on Monday that Cursor CEO Michael Truell told employees the potential merger with SpaceX was \"a big risk, or a big bet, that we're making.\"\n\nThe partnership SpaceX struck with Cursor in April 2026, which was first reported by Business Insider and saw the two companies collaborate on compute and AI training, gave SpaceX the option to [buy the AI coding firm for $60 billion](https://www.businessinsider.com/spacex-cursor-coding-xai-deal-acquisition-2026-4) or pay $10 billion for their work together.\n\nThe Cursor purchase comes days after SpaceX raised a record-breaking $85 billion in the largest IPO in history.\n\nThe company's valuation has continued to rise in the days after it started trading and closed at a $2.5 trillion on Monday, just below Amazon and above Meta and Tesla.\n\n*This is a developing story. Check back for updates.*", "url": "https://wpnews.pro/news/spacex-confirms-it-is-buying-ai-coding-startup-cursor-for-60-billion", "canonical_source": "https://www.businessinsider.com/spacex-confirms-cursor-acquisition-60-billion-ai-coding-startup-2026-6", "published_at": "2026-06-16 10:46:17+00:00", "updated_at": "2026-06-16 11:18:14.891138+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-startups", "ai-tools", "ai-products", "ai-infrastructure"], "entities": ["SpaceX", "Cursor", "Elon Musk", "Michael Truell", "Business Insider", "Amazon", "Meta", "Tesla"], "alternates": {"html": "https://wpnews.pro/news/spacex-confirms-it-is-buying-ai-coding-startup-cursor-for-60-billion", "markdown": "https://wpnews.pro/news/spacex-confirms-it-is-buying-ai-coding-startup-cursor-for-60-billion.md", "text": "https://wpnews.pro/news/spacex-confirms-it-is-buying-ai-coding-startup-cursor-for-60-billion.txt", "jsonld": "https://wpnews.pro/news/spacex-confirms-it-is-buying-ai-coding-startup-cursor-for-60-billion.jsonld"}}