SpaceX shares climb to record highs following announcement of a $60 billion all-stock purchase of AI startup Cursor.
SpaceX shares reached a new peak above $210 after the company agreed to acquire AI coding startup Cursor in a $60 billion all-stock transaction. The deal, disclosed in a regulatory filing, aims to integrate Cursor’s AI models into SpaceX’s ecosystem, including its Grok Build platform.
The acquisition follows months of negotiations, with SpaceX securing an exclusive option in April and agreeing to a $10 billion breakup fee if the deal collapsed. Anysphere, Cursor’s parent company, will become a wholly owned subsidiary of SpaceX, with shareholders receiving stock based on SpaceX’s average share price before closing.
The transaction is expected to finalize in Q3 2026, pending regulatory approval. Cursor, founded in 2022, has gained traction among developers for its generative AI coding tools.