SpaceX has agreed to buy Anysphere, maker of the AI coding tool Cursor, for $60 billion in stock to expand in enterprise artificial intelligence, days after its Nasdaq debut.
It ranks among the biggest deals the sector has seen. The listing last week raised more than $80 billion and valued SpaceX above $2 trillion, and the purchase hands xAI, which merged with SpaceX in February, a firmer grip on AI coding, one of the first places companies have turned the technology into real business revenue. SpaceX had pitched investors an addressable market worth $28.5 trillion, much of it from AI for businesses.
Cursor’s lead, though, has been slipping. Spending data from Ramp shows its market share fell from 41 percent in June 2025 to about 26 percent in May, with Anthropic now holding roughly half the category. SpaceX is buying a leader under pressure, not a runaway one.
Other suitors looked and walked. Microsoft weighed a bid before backing out, and Cursor turned down two approaches from OpenAI to stay independent. The startup was raising about $2 billion at a valuation north of $50 billion when SpaceX’s higher offer landed.
Cursor shareholders will receive SpaceX Class A stock, at an exchange ratio based on its average closing price over the seven trading days before completion. If the deal collapses, Cursor would collect $1.5 billion in cash plus $8.5 billion worth of computing resources. SpaceX President Gwynne Shotwell told CNBC the tie up “makes a huge amount of sense.” The stock element keeps dilution near 3.4 percent.
On the technology side, the two companies have spent recent months building a shared AI model set to appear inside Cursor and xAI’s Grok, trained on xAI’s Colossus supercomputing system, with a coding agent called Grok Build also due to ship.
The purchase could reshape SpaceX’s compute commitments. It recently agreed to lease cloud capacity to Anthropic and Google worth about $26 billion a year, with clauses letting it exit within 90 days, capacity it could pull back for Grok and Cursor if internal demand grows.
Four classmates from the Massachusetts Institute of Technology founded Anysphere in 2022, and chief executive Michael Truell now runs it. The company reported roughly $2.6 billion in annualised revenue and is backed by Andreessen Horowitz, Thrive Capital, Nvidia and Google. SpaceX expects the deal to close in the third quarter of 2026, subject to regulatory approval.
