SpaceX completes $60 billion acquisition of AI platform Cursor

SpaceX has finally completed its purchase of Anysphere, the company behind the AI coding tool Cursor, on Thursday in an all-stock transaction valued at $60 billion.

Both companies claim no startup has ever been bought for more, with SpaceX continuing its aggressive push into AI software and the industry at large.

Cursor becomes a SpaceXAI subsidiary

The deal, confirmed via an SEC Form 8-K, involved SpaceX issuing about 391 million Class A shares to finalize. Cursor’s outstanding stock was converted into 389.3 million SpaceX shares and additional restricted stock units and options assumed by the buyer.

The coding tool company will run as a wholly owned subsidiary within a completely rebranded division called SpaceXAI. In its own blog post dated August 14, the company stated that the deal was the finish line of a process that started in April, when the startup initially announced a partnership with SpaceXAI to speed up model training.

SpaceX shares, listed on the Nasdaq under the ticker SPCX, saw an increase of 1.5% up to $143.45 after the news. On X, the Cursor account said the team would join SpaceXAI to work on Grok and related products including Grok Build, Grok Bot, and the Grok API.

Cursor is now part of @SpaceX.

Today, we have officially closed our acquisition. We will join the @SpaceXAI team to help make Grok the world’s most useful AI and improve Grok Build, Grok Bot, Grok API, Cursor, and more.

SpaceX has built some of the most inspiring and…

— Cursor (@cursor_ai) August 14, 2026

Cursor gets access to SpaceX compute

Cursor said the merger gives the coding tool access to “the largest fleet of GPUs in the world.” The company says that compute will help train stronger models that are also cheaper to run. Access includes xAI’s Colossus supercomputer.

Cursor has also pointed at Grok 4.6, launched the day before the merger was finalised, seen as an early preview of the potential a combined engineering effort possesses. In addition, the merger operation has already pushed out a beta of a product called Grok Bot.

The company’s pitch to its existing customers is continuity with an increased level of firepower driving its processes. The startup said its goal has not changed since it was launched, which remains helping software engineers spend less time on code and more time on the harder problems.

Wall Street bets on potential coding cash cow

Analysts are increasingly positive that Cursor is a reason to own SpaceX stock, and focus should not ony be on the space business. Morgan Stanley retains a $300 base-case price target on the shares and projected the acquisition could add as much as $13 billion to SpaceX revenue by 2027.

In a 24/7 WallSt column, writer Joey Frenette noted Morgan Stanley’s potential $600 target, which depends on Cursor growing annual recurring revenue from about $8 billion at year-end to about $33 billion by 2030.

The smartest crypto minds already read our newsletter. Want in? Join them.