SpaceX completes $60 billion all-stock acquisition of coding startup Cursor

SpaceX has completed its roughly $60 billion all-stock acquisition of AI coding startup Cursor (Anysphere), the two companies said on August 14, closing a deal they first agreed to in June 2026. When last covered on August 8, the transaction was agreed but still pending.

The merger folds one of the most-used AI development tools into Elon Musk’s rocket and satellite company and hands Cursor access to what it calls the world’s largest GPU fleet. The stakes are less about aerospace than compute: Cursor builds an AI coding assistant, and training competitive models is a capital and hardware race.

Cursor said the combination lets it build stronger, more economical models on SpaceX’s GPU fleet. The companies have worked together since April 2026, when they announced a partnership to accelerate Cursor’s model training and began the acquisition process; Cursor cited Grok 4.6, released that week, as an early look at what the combination can build.

Under the merger, a SpaceX subsidiary absorbed Anysphere, and Cursor’s common and preferred shares converted into an aggregate 389,289,254 shares of SpaceX Class A common stock, according to SpaceX’s SEC filing. SpaceX shares reportedly rose about 3.6 percent to $136.20 after the announcement, and Cursor’s four MIT co-founders became billionaires on the close.

One caveat sits under the headline number: the $60 billion is an all-stock figure, denominated in SpaceX Class A shares (Nasdaq: SPCX) priced at a seven-day volume-weighted average rather than paid in cash. It reflects an implied equity value, so its realized worth tracks SpaceX’s share price.

The acquisition ranks among the largest of any AI startup to date and ties Cursor’s roadmap directly to SpaceX’s compute buildout, a bet that owning the hardware is the durable advantage in AI coding tools.