60 billion US dollars, Cursor belongs to Elon Musk now
SpaceX's acquisition of Cursor has finally come to an end.
Just now, an announcement from the U.S. Securities and Exchange Commission (SEC) showed that SpaceX has announced that it will acquire Anysphere, the parent company of AI programming tool Cursor, through an all - equity transaction. This transaction has valued Cursor at $60 billion.
Only a few days before the release of this acquisition news, SpaceX had just completed its transformation from a rocket company to an AI enterprise and had a sensational listing on the NASDAQ. Its market value exceeded $2 trillion on the first day of listing, making it one of the companies with the highest market value globally. On the second day of listing, SpaceX's stock price rose nearly 20%, and its current market value has reached $2.5 trillion. This acquisition aims to accelerate SpaceX's layout in the enterprise - level AI market.
After this transaction, Cursor will become a wholly - owned subsidiary of SpaceX. The shareholders of Cursor will receive Class A shares of SpaceX, and the exchange ratio will be based on the average stock price of SpaceX in the seven days before the completion of the transaction. However, this transaction still needs to be approved by regulatory authorities and meet the usual conditions for transaction completion.
SpaceX said that it expects the merger transaction to be completed in the third quarter of 2026.
Actually, SpaceX has been paying attention to Cursor for several months. The company said in April that it had obtained an option: either acquire Cursor for $60 billion later this year or reach a new partnership at a price of $10 billion and provide computing power support.
This is a relatively rare transaction structure design. At that time, Cursor was originally in the final stage of a $2 billion financing round led by a16z, NVIDIA, etc., and its post - investment valuation was about $50 billion. SpaceX intervened strongly and "intercepted" the deal, achieving a deep binding of computing power and equity.
Now, after completing its listing, with the abundant funds and stock liquidity in the public market, SpaceX has officially exercised this $60 - billion call option.
Cursor, along with companies like OpenAI and Anthropic, is one of the few startups in Silicon Valley that have automated code writing through artificial intelligence, thus attracting a large number of developers.
According to the company data that Cursor shared with Reuters earlier this month, since its establishment in 2022, Cursor's business has expanded rapidly. Its annual B2B revenue is about $2.6 billion, and its enterprise sales have grown particularly rapidly.
For the Grok team under SpaceX, the acquisition of Cursor is of great significance. When Elon Musk announced the new model last month, he mentioned that they had added a large amount of data from Cursor to the post - training of the new model, and this data source will continue to expand. As is well - known, Cursor is an AI code editor actually used by developers, and the data contains real workflows (writing code, debugging, iterating, fixing bugs, etc.), which is a reflection of "how human developers think" and has very unique value.
Therefore, this transaction is expected to help the Grok team gain a more solid foothold in the AI programming market, which was previously a relatively weak area for them.
Although Cursor is one of the fastest - growing AI products in the past two years and led the Vibe Coding trend in 2025, its weakness lies in its high - level dependence on competitors for the underlying model. Its core experience is built on calling the models of Anthropic and OpenAI. As these giants launch their own native code tools (Claude Code and Codex), Cursor is facing the dual crises of supply interruption and extreme margin compression.
After being incorporated into SpaceX, Cursor can directly use the Colossus Supercomputing Center in Memphis under Elon Musk's xAI. With the support of almost unlimited computing power, Cursor can shift from simple application - layer development to directly training a flagship - level large - scale code model.
It is still unclear whether this transaction will affect SpaceX's existing agreements for renting out data centers. In recent weeks, SpaceX has reached agreements with Anthropic and Google, leasing cloud computing capabilities at an annual scale of about $26 billion in total.
Both of these agreements include a 90 - day termination clause, which means that SpaceX can quickly take back computing resources if necessary.
Reference Content
https://www.sec.gov/Archives/edgar/data/1181412/000162828026043411/spaceexplorationtechnologi.htm
https://www.reuters.com/legal/transactional/spacex-buy-anysphere-60-billion-2026-06-16/
This article is from the WeChat official account “Almost Human” (ID: almosthuman2014), written by Zhang Qian and Zenan, and is published by 36Kr with authorization.