SpaceX to acquire AI coding startup Cursor for $60 billion after record Nasdaq IPO, vaulting toward $2.8 trillion market value

The deal

SpaceX will acquire Anysphere, the developer of the widely used AI coding assistant Cursor, for $60 billion in stock. The transaction, disclosed in an SEC filing, follows the company’s record-breaking Nasdaq IPO on Friday that valued it at more than $2 trillion. The purchase price may be settled in cash, Class A shares, or a combination, according to the filing.

Background and option

In April 2026, SpaceX secured an option to buy the San Francisco-based startup for $60 billion, with an alternative of paying $10 billion for a partnership. The option can be exercised from June 23, subject to board approval and regulatory clearance. If SpaceX walks away, it faces a termination fee of $1.5 billion plus $8.5 billion in deferred service fees.

Cursor and the AI coding race

Cursor enables developers to generate code from natural-language prompts and has become central to the so-called “vibe coding” trend. Anysphere generated annualized revenue of $2.6 billion from business customers, according to Reuters data cited by WirtschaftsWoche. The acquisition, following SpaceX’s February merger with xAI, sharpens its competition with Anthropic and OpenAI in enterprise and consumer generative AI.

Market reaction

SpaceX shares rose about 10% in pre-market trading on Tuesday, building on a 50% gain since the IPO. At $201 per share, the company’s market capitalization could reach $2.8 trillion, overtaking Amazon as the world’s fifth-largest publicly traded firm, per FT and ANSA reports.

Data center implications

The deal may reshape SpaceX’s cloud-leasing contracts with Anthropic and Alphabet, which bring in roughly $26 billion annually. Those agreements include 90-day termination clauses, providing flexibility as Cursor’s tools are integrated.