According to Reuters, SpaceX announced on Tuesday that it would exercise its option to purchase Anysphere, the company that developed the AI coding assistant Cursor, in a $60 billion transaction. The acquisition, which SpaceX anticipates closing in the third quarter of 2026, is one of the biggest AI transactions in history and occurs only days after the company’s historic Nasdaq launch.
From Purchase To Option
In April, SpaceX obtained the right to either purchase Cursor for $60 billion or pay $10 billion for a cooperative venture, setting the stage for Tuesday’s announcement. SpaceX was able to time the acquisition around its intended IPO because the agreement was structured as a call option. SpaceX planned to move forward with the acquisition about 30 days after becoming public, according to a May Bloomberg story.
The largest public offering in history, SpaceX’s IPO on June 12, raised almost $75 billion at $135 per share. The company’s market valuation surpassed $2 trillion as shares ended the first day of trading over 20 percent higher. SpaceX’s IPO filing states that $60 billion in Class A equity will be issued as part of the Cursor acquisition.
AI Goals And The xAI Relationship
The acquisition would combine SpaceX’s Colossus AI training supercomputer, which the firm claims is comparable to one million H100 GPUs, with Cursor’s coding models and its well-liked integrated development environment. The goal of the Cursor transaction is to improve SpaceX’s standing in the AI coding industry, where it is behind its competitors. SpaceX merged with xAI, the company that developed the Grok chatbot, in February.
The initial collaboration, according to Cursor CEO Michael Truell, was an attempt to “scale up Composer,” a reference to Cursor’s exclusive AI model. Before the SpaceX transaction, the business was about to close a $2 billion investment round at a $50 billion valuation.
What Is At Risk
Given that contracts now contain guarantees that neither Cursor nor its model suppliers
, the agreement raises concerns for Cursor’s corporate clients regarding model neutrality and data handling. In what is already one of the fastest-growing areas of enterprise software, SpaceX would directly compete with Microsoft-backed GitHub Copilot and other AI coding tools if the acquisition is completed on time.