SpaceX is buying AI coding firm Cursor for $60 billion
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The all-stock acquisition concludes an agreement the two announced in April.
Key facts
In April, the two companies signed a partnership that saw SpaceX agree to either invest $10 billion into Cursor or buy it outright for $60 billion
As recently as April, the company was reportedly in talks to raise approximately $2 billion in new funding from Andreessen Horowitz, NVIDIA and other investors
SpaceX has agreed to buy AI startup Cursor for $60 billion in stock, concluding a deal that was first announced earlier this year
Now the world's first trillionaire has bet $60 billion that Cursor can help with that undertaking
Summary
SpaceX has agreed to buy AI startup Cursor for $60 billion in stock, concluding a deal that was first announced earlier this year. Cursor is known for its AI coding tool of the same name. As for SpaceX, Cursor represents a way for it to shore up its xAI division. As you might recall, SpaceX bought Elon Musk's AI lab in February, which itself merged with X (formerly Twitter) last year. Now the world's first trillionaire has bet $60 billion that Cursor can help with that undertaking.