Elon Musk's SpaceX Acquires AI Software Startup for $60 Billion
SpaceX has agreed to acquire AI startup Cursor for $60 billion (about £45 billion) just days after its large-scale initial public offering (IPO), reports BBC.
Elon Musk's rocket company will take control of Anysphere, which develops artificial intelligence tools for code writing.
The deal followed SpaceX's Friday debut on the Nasdaq technology exchange in the largest listing in history, achieving a valuation of over $2 trillion and raising $85.7 billion.
The companies have been partners since April, when SpaceX stated it had the right to either buy Cursor for $60 billion or pay $10 billion for already completed joint work.
Like OpenAI and Anthropic, Cursor's technologies use artificial intelligence to automate programming code writing — one of the key areas of modern AI development.
The deal comes amid SpaceX's efforts to catch up with competitors in artificial intelligence by developing its own division, xAI, which created the chatbot Grok.
Cursor is already used by companies such as Stripe, Adobe, and Nvidia. Nvidia CEO Jensen Huang called the service his "favorite corporate AI solution."
SpaceX noted that the deal is planned to be completed by the end of September, with Cursor shareholders receiving compensation in SpaceX shares worth $60 billion. The company's stock price rose nearly 50% after the IPO.
The listing also made Elon Musk the world's first trillionaire, sparking discussions about inequality and wealth taxes.
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