SpaceX makes a major move to reshape its AI future: What to know

In a significant move, SpaceX has completed its takeover of Anysphere, Inc., the developer of the prominent AI coding tool Cursor in an all-stock transaction valued at $60 billion.

The historic deal was confirmed through an SEC Form 9-K in the issuance of approximately 391 billion SpaceX Class A shares and is generally regarded the largest startup acquisition on record.

This announcement was made after the shares saw a significant 1.5% surge, along with trading at $143.45. In accordance with the agreement, Cursor’s remarkable shares were converted into 389.3 million SpaceX shares with further limitations stock units and several options assumed by the aerospace giant. 

Cursor will now be a completely owned subsidiary under the newly rebranded SpaceXAI divisions.

This acquisition funds the Cursor team access to SpaceX’s Colossus supercomputer, and the combined entity has already released a beta version of Grok.

According to analysts, the Cursor brand will be discontinued in favor of the Grok moniker. Furthermore, Morgan Stanley maintained a $300 base price target forecasting that the Cursor buyout will boost SpaceX up to $13 billion by 2027.