SpaceX completed its acquisition of Anysphere, the maker of the AI coding tool Cursor, in an all-stock deal implying a $60 billion equity value for Cursor — the largest startup acquisition on record. The merger became effective August 14, with the closing confirmed in a Form 8-K filed with the SEC, and Cursor now operates as a wholly owned SpaceX subsidiary inside a newly created SpaceXAI division.

How the deal came together

SpaceX first secured an exclusive option in April to acquire Anysphere or walk away for a $10 billion breakup fee, then exercised that option and signed the definitive $60 billion merger agreement on June 16. Under the terms, SpaceX's wholly owned subsidiary X67 Inc. merged into Anysphere, with Cursor surviving as the combined entity. Cursor's outstanding common and preferred shares converted into roughly 389.3 million shares of SpaceX Class A common stock, plus about 1.75 million additional shares for vested restricted stock units; Cursor's unvested RSUs and options rolled into roughly 29.1 million assumed SpaceX RSUs and 44.4 million assumed SpaceX options. SpaceX issued the stock under a Securities Act exemption for transactions that don't involve a public offering, rather than through a registered public sale.

What changes for Cursor

Cursor, whose AI-assisted code editor has become one of the most widely used tools in the AI-coding-agent category, will now have access to SpaceX's compute infrastructure, including its Colossus supercomputer cluster. Reporting following the close indicated the Cursor team is being folded into SpaceXAI to work alongside the company's existing Grok-branded AI products — including Grok Build and the Grok API — raising questions among some Cursor users about how much of the product's branding and independence will persist under its new owner. SpaceX has not detailed near-term product changes.

Why it matters

The deal is the largest startup acquisition ever recorded and marks Elon Musk's SpaceX making its most direct move yet into the AI coding-agent market, an area already being contested by Anthropic's Claude Code, OpenAI's Codex, Cognition's Devin and GitHub Copilot. It also lands just weeks after SpaceX's own record-setting IPO, giving the company a large stock currency to use for acquisitions — and signals that hardware and infrastructure companies, not just software labs, now see owning a leading coding agent as strategically important enough to pay a premium multiple for.