SpaceX to buy AI coding assistant Cursor for $60 billion
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SpaceX, fresh off its blockbuster initial public offering last week, said on Tuesday that it is buying the artificial coding assistant Cursor for $60 billion in stock, according to a securities filing.
Key facts
That means investors now see SpaceX as more valuable than companies such as Amazon, which has a market capitalization of $2.66 trillion and Meta Platforms ($1.51 trillion)
Musk's company also said at the time that Cursor had granted it approval to either buy the company for $60 billion or pay $10 billion to "work together
The deal comes after SpaceX raised $75 billion in its IPO on Friday
Elon Musk's space exploration and satellite company said Cursor, developed by San Francisco-based startup Anysphere, will become a wholly owned subsidiary upon closing the deal in the third quarter
Summary
Elon Musk's space exploration and satellite company said Cursor, developed by San Francisco-based startup Anysphere, will become a wholly owned subsidiary upon closing the deal in the third quarter of 2026. This high-priced acquisition underscores the immense demand for AI-based coding, a sector currently transforming the software industry. "We are excited to share that SpaceX has exercised their option to acquire Cursor in an all-stock transaction with the goal of building the world's most useful AI models," Cursor CEO Michael Truell said shared with CBS News. Launched in 2022 by Truell and three of his classmates from MIT, Cursor helped spark a trend called "vibe coding" as AI coding tools have become increasingly capable of autonomously producing computer software.