SpaceX agreed to acquire AI coding startup Cursor in a $60 billion all-stock deal, issuing Class A shares based on a seven-day VWAP and targeting a Q3 2026 close pending approvals. Approximately 2 billion shares will become eligible for sale within 90 days, tripling the 639 million-share float and likely pressuring the stock.
SpaceX agreed to acquire Anysphere, the parent of AI coding tool Cursor, in an all-stock transaction valuing the startup at $60 billion. The deal is set to close in the third quarter of 2026, pending regulatory approvals and customary closing conditions.
Each class of Cursor stock will convert into SpaceX Class A common shares, with the exact ratio determined by the volume-weighted average closing price of SpaceX shares over the seven trading days preceding deal completion.
About 2 billion shares will become eligible for sale within 90 days through staggered lockup expirations tied to earnings releases and price performance triggers. This influx will more than triple the current 639 million-share float, ending the scarcity-driven rally.
The significant increase in share supply could exert downward pressure on SpaceX’s stock price, while the acquisition expands its AI capabilities alongside its recent merger with xAI. Investors will closely watch post-deal trading and integration milestones for signs of value creation.
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