SpaceX shares rise following announcement of a $60 billion all-stock acquisition of AI startup Cursor, disclosed in an SEC filing.
SpaceX shares climbed to a record high above $210 after the company agreed to acquire AI coding startup Cursor in a $60 billion all-stock deal. The transaction, disclosed in a June 16 SEC filing, is expected to close in Q3 2026 and aims to integrate Cursor’s AI models into SpaceX’s offerings.
The deal follows months of negotiations, including an exclusive option secured by SpaceX in April to acquire Anysphere, Cursor’s parent company, or pay a $10 billion breakup fee. Anysphere shareholders will receive SpaceX Class A stock based on the company’s average share price over the seven trading days preceding the merger.
SpaceX stated the acquisition will accelerate development of its AI models, with joint training already underway. The stock’s rally extends a post-IPO surge that began last week, pushing shares above $200 for the first time.