SpaceX to acquire Cursor in $60 billion stock deal

TL;DR: SpaceX agreed to acquire US-based AI coding startup Cursor in a stock deal that values Cursor at $60 billion, according to a US Securities and Exchange Commission filing dated 16 June. The transaction is expected to close in Q3, subject to regulatory approvals, after which Cursor will become a wholly owned subsidiary of SpaceX.

SpaceX agreed to acquire Cursor in a $60 billion stock deal on 16 June, according to a filing with the US Securities and Exchange Commission. The filing said Cursor investors will receive SpaceX stock based on the startup’s implied $60 billion equity value.

The transaction converts an earlier option into a binding merger agreement and is expected to close in Q3. After regulatory approvals, Cursor will become a wholly owned subsidiary of SpaceX. SpaceX CFO Bret Johnsen signed the filing.

Bloomberg reported the acquisition is central to SpaceX’s AI plans. Bloomberg also reported that xAI, now part of SpaceX’s operations, trails Anthropic and OpenAI on coding capabilities, and that SpaceX’s AI unit has faced dozens of departures across engineering and data training. Cursor launched its AI coding assistant in 2023, and Bloomberg reported the company had been discussing a funding round that would have valued it at more than $50 billion before the acquisition.

Related questions

• What is the value of SpaceX’s acquisition of Cursor?
• When is the SpaceX-Cursor transaction expected to close?
• How will Cursor investors be paid in the merger?
• What will Cursor’s status be after the acquisition closes?