SpaceX announced on Tuesday that it has secured the right to acquire Anysphere, the company behind the AI-powered coding tool Cursor, for $60 billion in an all-stock transaction.
The deal includes an alternative option for a partnership agreement. The announcement follows SpaceX's recent initial public offering (IPO) and is part of the company's expansion into enterprise AI markets.
Transaction Details
SpaceX confirmed the agreement via a post on the social platform X. The terms state that SpaceX has the right to acquire Anysphere for $60 billion. As an alternative to a full acquisition, SpaceX could pay $10 billion to collaborate on a technology partnership. According to an announcement from SpaceX, the acquisition is expected to close during the third quarter, pending regulatory approvals.
Parties Involved
The agreement involves SpaceX, the aerospace manufacturer and space transportation company founded by Elon Musk, and Anysphere. Anysphere is the developer of Cursor, an AI coding assistant that uses integrated development environment (IDE) software to predict and generate code for users. The company was founded in 2022 by four Massachusetts Institute of Technology (MIT) classmates: CEO Michael Truell, Aman Sanger, Sualeh Asif, and Arvid Lunnemark. Cursor is headquartered in San Francisco and New York and employs over 300 people.
Financial Background
Anysphere has raised over $2.36 billion to date. The company's valuation history includes:
- $2.5 billion in January 2023
- $9 billion in May 2023
- $29.3 billion post-money valuation in November 2023 after a $2.3 billion Series D round
- A reported valuation of $30 billion by the end of 2025
- Negotiations for funding at a $50 billion valuation prior to the SpaceX announcement
Investors in Anysphere include Andreessen Horowitz, Thrive Capital, Nvidia, and Google.
According to reports, the company achieved $100 million in annualized revenue in January 2025 and crossed $2 billion in annualized revenue by February 2026.
Strategic Context
This acquisition follows SpaceX's purchase of AI company xAI in February 2026 and the formation of SpaceXAI, the company's AI division. SpaceX filed for a confidential IPO in April 2026 and subsequently went public, raising over $80 billion at a valuation exceeding $2 trillion. The Cursor acquisition is seen by analysts as a vertical integration strategy, combining SpaceX's infrastructure and xAI's model with Cursor's application and user distribution.
Competitive Landscape
Cursor competes with other AI coding tools, including Anthropic's Claude Code and OpenAI's Codex. In March 2026, Cursor launched Cursor 3, which enables users to create AI coding agents. According to company statements, Cursor plans to train its AI models using xAI's Colossus supercomputer, which it describes as having computing power equivalent to one million Nvidia H100 chips. Some developers have reported switching from Cursor to competing products due to cost and performance considerations.