SpaceX Buys AI Coding Giant Cursor for $60 Billion Days After Record Nasdaq IPO

SpaceX (SPCX) shares jumped 17% after the newly public aerospace giant announced a $60 billion acquisition of Anysphere, the startup behind AI coding assistant Cursor. The move is seismic. The announcement came just days after SpaceX completed its IPO and began trading on Nasdaq under the ticker "SPCX." SpaceX topped Amazon and Microsoft by market cap, making it the fourth most valuable company in the U.S. Under the deal terms, SpaceX entered into a merger agreement with Anysphere and subsidiary X67, which will merge into Cursor — surviving as a wholly owned SpaceX subsidiary. Founded in 2022, Cursor quickly emerged as a major player in AI-powered software development, helping developers generate, edit, and review code. In November, Cursor crossed $1 billion in annualized revenue. However, Cursor's market share had declined from 41% in June 2025 to about 26% in May. If the deal is not completed, SpaceX agreed to pay a termination fee of $1.5 billion plus $8.5 billion in computing resources. The transaction is expected to close in Q3 2026.