The deal lands just days after Elon Musk’s space company made its Wall Street debut
Elon Musk is not slowing down. Days after taking SpaceX public in one of the biggest market debuts in history, the billionaire is already spending big, and this time he is reaching well beyond rockets.
SpaceX told securities regulators today, that it has agreed to buy Anysphere, the San Francisco startup behind the popular AI coding tool Cursor, in an all-stock deal valuing the company at $60 billion, according to a regulatory filing. The move marks one of the largest artificial intelligence acquisitions yet and a clear sign that Musk wants a bigger piece of the booming AI software market.
A blockbuster deal days after going public
The timing is hard to miss. SpaceX’s Nasdaq debut valued the company at more than $2 trillion, instantly placing it among the most valuable firms on the planet. Just four days later, the company filed paperwork laying out its plan to absorb Cursor.
Under the agreement, a SpaceX subsidiary called X67 Inc. will merge into Anysphere, leaving the startup as a wholly owned part of SpaceX. Anysphere shareholders will see their stock converted into SpaceX Class A shares, with the final exchange ratio tied to SpaceX’s average share price over the seven trading days before the deal closes. The companies expect the transaction to wrap up in the third quarter of 2026, pending regulatory approval.
This was not a sudden decision. Back in April, SpaceX secured an option to either buy Anysphere for $60 billion or pay $10 billion for a partnership instead, and it has now chosen to buy outright.
Wow. Spacex buys Cursor for $60B
A lot of people thought this company was dead a few *months* ago
Great outcome for all, including me in a very small way… Thus concludes my bet with @rabois
(He bet me $100k that no company founded in SF between 2020-2023 would exit >$10B) pic.twitter.com/SEs9t86HrD
— Sheel Mohnot (@pitdesi) June 16, 2026
From a small startup to a $60 billion target
Cursor’s rise has been fast even by Silicon Valley standards. Founded in 2022 by four MIT graduates, including chief executive Michael Truell, the company built an AI-powered code editor that lets developers write, edit and review software using plain language. The tool helped popularize a trend known as vibe coding, in which AI handles much of the heavy lifting that engineers once did by hand.
That approach caught on quickly. Cursor’s business has scaled to roughly $2.6 billion in annualized revenue, with enterprise sales climbing sharply. The startup has become one of the breakout names of the generative AI era, sitting alongside heavyweights like OpenAI and Anthropic.
Why Musk wants Cursor
The purchase fills a notable gap for Musk’s empire. SpaceX merged with xAI, the maker of the Grok chatbot, in February, but that combined company has lagged behind rivals in the race to build tools for software developers. Buying Cursor hands it a product that engineers already love.
The deal also drops SpaceX into direct competition with some of tech’s biggest players, including Microsoft, which owns GitHub Copilot, and Anthropic, which recently rolled out Claude Code. With nearly every major AI company now chasing the developer market, the fight over the tools coders use every day is heating up fast.
For Cursor, joining SpaceX means access to enormous computing power, a resource that has become one of the most valuable commodities in AI. For Musk, freshly minted as the world’s first trillionaire, it is another move to expand an empire that already spans rockets, satellites, cars and chatbots.
The last word now belongs to regulators, who will decide whether the deal can close on schedule.