SpaceX to Spend $60 Billion on AI Coding Startup Cursor with Q3 2026 Close
SPCX•SpaceX agreed to acquire AI coding startup Cursor for $60 billion, issuing stock based on that valuation and aiming to close in Q3 2026. The deal follows the IPO-triggered 40%+ rally that lifted its valuation toward $2.7 trillion despite a $4.94 billion net loss and $20.7 billion in capital spending last year.
1. Acquisition Terms
SpaceX has executed a definitive agreement to buy Cursor at a $60 billion equity valuation, granting Cursor investors rights to receive SpaceX stock. The purchase, originally secured in April, is expected to finalize in Q3 2026 following the company’s delayed exercise of its buyout option due to its recent IPO.
2. Post-IPO Rally
In its first two trading sessions post-IPO, SpaceX shares surged over 40%, briefly reaching a market capitalization near $2.7 trillion and propelling Elon Musk’s net worth above $1.27 trillion. Limited float—approximately 4.2%—and strong retail participation underpinned the sharp gains, which outpaced Amazon’s market value.
3. Financial Considerations
Last year, SpaceX reported a $4.94 billion net loss after recognizing debt tied to xAI investments, while capital expenditures climbed to $20.7 billion, led by AI projects. The Cursor acquisition represents the largest single AI spending commitment to date and could widen losses before boosting long-term coding tool capabilities.
