SpaceX has announced plans to acquire Anysphere, the company behind the AI coding platform Cursor, in a stock-for-stock deal valued at $60 billion. The deal is expected to close during the third quarter of 2026, subject to regulatory approvals and customary conditions. The announcement comes just days after SpaceX completed the largest IPO in history, raising around $85.7 billion and reaching a market capitalization above $2 trillion.
This deal was not a surprise, as SpaceX had already secured an option to buy Cursor earlier this year. In April, SpaceX and Cursor entered into a strategic partnership that gave SpaceX the option to acquire the company for about $60 billion later this year. If a full acquisition did not happen, SpaceX would instead pay around $10 billion for a long-term collaboration agreement. That arrangement was widely seen as the first step toward a takeover. But now, the deal announced turns that option into a full acquisition.
Notably, Cursor has become one of the fastest-growing AI companies in Silicon Valley. Founded in 2022 by MIT graduates Michael Truell, Sualeh Asif, Aman Sanger and Arvid Lunnemark, the company built an AI-powered coding platform that helps developers write, edit, debug and understand software using natural-language prompts. Cursor became one of the most popular products in the fast-growing ‘vibe coding’ movement, where programmers increasingly rely on AI to generate large portions of code.
In just a few years, the company reportedly crossed $1 billion in annual recurring revenue and later reached a revenue run rate of more than $2 billion, making it one of the fastest-growing software businesses ever. In terms of valuation, Cursor was valued at about $2.5 billion in early 2025, climbed to around $9 billion a few months later, reached about $29 billion after a major fundraising round, and was reportedly discussing financing at a $50 billion valuation before SpaceX stepped in with a $60 billion offer.
For SpaceX, the attraction is not just Cursor’s technology but also its position inside the daily workflow of software developers. AI coding assistants are becoming one of the most important markets in AI because developers are among the highest-paying AI users. Cursor already has a large and highly engaged user base, giving SpaceX direct access to millions of coding sessions and valuable feedback data. Instead of spending years building a competing product from scratch, SpaceX gains a proven platform, a strong engineering team and a growing enterprise customer base.
The deal is also closely tied to SpaceX’s massive AI infrastructure investments. Before the acquisition, Cursor had already begun using large amounts of compute capacity from xAI and SpaceX facilities, including access to the company’s Colossus supercomputer operation in Memphis. SpaceX has claimed that its AI infrastructure now operates at a scale equivalent to roughly one million Nvidia H100-class GPUs, making it one of the largest AI computing environments in the world.
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Ashutosh is a Senior Writer at The Tech Portal, largely reporting on new tech, and intersection of technology and business. Ashutosh’s career spans across nearly a decade of technology writing across multiple platforms and languages.
