SpaceX to Acquire AI Coding Agent Cursor for $60 Billion
SPCX•SpaceX will acquire Anysphere, developer of AI coding agent Cursor, in an all-stock deal valued at $60 billion based on a volume-weighted average of its shares. Subject to regulatory approvals, the merger is expected to close in the third quarter, expanding SpaceX’s enterprise AI capabilities.
1. Acquisition Agreement Details
SpaceX has agreed to acquire Anysphere, the maker of the AI coding agent Cursor, in an all-stock transaction valuing the business at $60 billion. Anysphere shareholders will receive SpaceX Class A common stock based on the volume-weighted average share price during the week before closing.
2. Strategic Rationale and Integration
The acquisition aims to bolster SpaceX’s presence in enterprise AI by integrating Cursor’s coding automation tools with xAI operations. Data from Cursor’s developer community, including coding requests and design decisions, is expected to feed into improvements for SpaceX’s AI models such as Grok Build.
3. Regulatory and Closing Conditions
Completion of the merger is subject to regulatory approvals and customary closing conditions, with the deal targeted for the third quarter. Antitrust reviews will play a key role in the timeline and terms of the transaction.
4. Termination Fees and Risks
If the deal is terminated under certain conditions, SpaceX may owe a $10 billion fee or a $4 billion fee if the failure is due to antitrust issues. Existing cloud computing agreements with Anthropic and Google, valued at about $26 billion annually, remain unaffected but feature 90-day termination clauses.
