SpaceX has completed its $60 billion all-stock acquisition of Cursor, the AI coding assistant built by Anysphere, bringing the startup and its model-development team under the SpaceXAI umbrella. The deal took effect Friday, August 14, according to an SEC filing, roughly two months after the transaction was first announced in June.
The acquisition caps a rapid courtship. In April, SpaceX secured an option to buy Cursor for $60 billion in Class A shares or walk away by paying roughly $10 billion in breakup and deferred-services fees. SpaceX exercised the option within two trading days of its record-breaking IPO in June, locking in a price that represented about twice Cursor's last private valuation of $29.3 billion from November 2025.
Cursor's revenue trajectory has been extraordinary. The company crossed $100 million in annualized revenue in January 2025, reached $2 billion by February 2026, and was running at approximately $4 billion in annual recurring revenue by early June. It claims 4 million active developers generating 150 million lines of enterprise code daily, with 67% of Fortune 500 companies using the tool.
Strategically, the deal addresses two parallel needs. SpaceX's Grok models have lagged rivals from OpenAI, Anthropic, and Google, particularly in code generation. Cursor gives SpaceXAI a mature product and a team that has already collaborated on Grok 4.5 and Grok 4.6. For Cursor, the prize is access to what it describes as the largest fleet of GPUs in the world, enabling stronger models that are more economical to run.