Elon Musk’s aerospace company SpaceX will be acquiring AI coding startup Cursor for $60 billion worth of stock. As part of the deal, SpaceX has agreed to allocate $60 billion in class A common stock to Cursor’s parent company, Anysphere Inc. The issuance essentially makes for around 2.2 percent in equity dilution for SpaceX, — which recently hit a staggering valuation of over $2.7 trillion following its historic IPO on Nasdaq on June 12.
Cursor was launched in March 2023 as an AI-first code editing agent. It was designed to automatically write, edit, and debug software repositories based on natural language instructions. San Francisco, California-based Anysphere had made Cursor live nearly a year after its own debut.
Its acquisition by SpaceX indicates that Musk is looking to amp up the presence of his brands in the AI sphere which is rife in competition with prominent players like OpenAI, Anthropic, and Perplexity among others. Earlier this year, the trillionaire merged his own AI company xAI with SpaceX to give it more financial support to expand its R&D.
The choice of AI company to acquire shows SpaceX having done extensive research. Data by Ramp shows, Cursor — with a 95 percent adoption rate — ranks number one within the code AI category.
“As of June 2026, 95 percent of organizations who have a vendor in the Code AI category use Cursor: up < 1 percentage points from last year,” data by Ramp noted. “Cursor has the highest adoption among mid-market companies, compared to enterprise (93 perceny), small-to-medium businesses (95 percent), and micro-SMB (95 percent).”
Source: Ramp
After establishing a strong footpring in areas like social networking, space tech, and automobiles, Musk has now set his eye at becoming influential in the AI space. By 2027, the tech mogul wishes to start work on space-based AI centres in a rather ambitious plan.
Disclosing Cursor’s acquisition to the U.S. SEC, SpaceX said it expects the merger to close by the third quarter of 2020, implying somewhere between July and September this year. This 8-K form was filed by SpaceX’s Chief Financial Officer, Bret Johnsen.
Source: SEC
At the time of writing, the SpaceX stock was trading at $213.36 with a profit of 10.85 percent under the ticker SPCX.
