SpaceX (SPCX) confirmed on Tuesday that it will acquire Anysphere, the company behind the AI coding tool Cursor, for $60 billion.
In a filing, SpaceX confirmed the deal will be an all-stock transaction, with the company expecting the merger to close during the third quarter, pending regulatory approvals
The agreement follows an option SpaceX secured in April of this year, where SpaceX obtained the right either to pay roughly $10 billion for a partnership with Cursor or to acquire the company for $60 billion later in the year. SpaceX shares were up in pre-market trade, poised for 3 straight days of gains since its IPO. Cursor’s business has scaled rapidly since its founding in 2022, with roughly $2.6 billion in annualized revenue and enterprise sales rising, per Reuters.
In April, the company had been in talks to raise new funding at a valuation of roughly $50 billion. Cursor is an AI-powered code editor designed to accelerate software development. It includes a chatbot assistant, code autocomplete, and AI agents capable of handling coding tasks independently, in addition to other capabilities.