SpaceX completed its $60 billion all-stock purchase of artificial intelligence coding platform Cursor on Friday, marking the aerospace company's first major acquisition since going public on June 12.
A SpaceX subsidiary merged with Anysphere, Cursor's parent company, with shareholders receiving rights to approximately 389 million Class A ordinary shares. The deal stems from an April collaboration agreement that gave SpaceX the right to acquire the startup or pay $10 billion. Cursor counts more than 50,000 enterprise clients, including 64% of Fortune 500 companies.
The acquisition deepens ties between SpaceX and xAI, whose Grok 4.5 model released in July was jointly trained on trillions of tokens of Cursor data. Morgan Stanley projects Cursor's annual recurring revenue could reach $33 billion by 2030, up from roughly $4 billion in June.