SpaceX has signed a definitive agreement to acquire Anysphere, the company behind the AI coding tool Cursor, in an all-stock deal valued at $60 billion. The transaction, announced on June 16, 2026, comes just days after SpaceX’s record-setting initial public offering. The deal is expected to close in the third quarter of 2026, pending regulatory approvals.
How the deal works
The merger creates a wholly owned SpaceX subsidiary called X67 Inc., which will then merge into Cursor. Cursor will survive as a subsidiary of SpaceX. Cursor shareholders will receive SpaceX Class A common stock with an implied equity price of $60 billion, calculated using the seven-day volume-weighted average price preceding the deal’s closing. By using an all-stock structure, SpaceX preserves its cash for core operations while aligning incentives between the two companies.
Why Cursor
Cursor has seen explosive adoption since its launch. Millions of developers and major enterprise clients now use the AI coding assistant, fueling rapid revenue growth. SpaceX is paying a premium for Cursor’s agentic coding capabilities — particularly its Composer models — and what executives see as proven product-market fit. The $60 billion valuation reflects that bet.
SpaceX shares have been trading near $192 after a strong post-IPO debut. Analysts view the acquisition as positioning the company at the intersection of aerospace hardware and frontier software. Cursor’s AI tools could help SpaceX engineers write and optimize code for rockets, satellites, and Starlink, though the companies haven’t detailed specific integration plans. The deal also signals SpaceX’s ambition to own more of the software stack that powers its operations.
The merger is targeted to close in Q3 2026. That timeline depends on approval from regulators, including antitrust reviews that could stretch into the fall.
