After SpaceX's IPO, Musk announces that he will buy AI company

SpaceX's entry into the stock market could transform Elon Musk into the world's first trillionaire
Reuters
Elon Musk's SpaceX announced on Tuesday (16) that it will acquire Anysphere, the software company responsible for the artificial intelligence programming agent Cursor, for US$60 billion, in an attempt to expand its presence in the business AI market.
The announcement comes just days after Musk took his company public in a strong debut on the Nasdaq, which valued the company at more than $2 trillion and immediately made it one of the most valuable companies in the world.
SpaceX said it expects the merger to be completed during the third quarter of 2026.
SpaceX takes to the stock market a bet that goes beyond rockets
SpaceX had been eyeing Cursor for several months. The company said in April that it had secured an option to acquire San Francisco-based Cursor for $60 billion later this year, or pay $10 billion for its new partnership.
Along with OpenAI and Anthropic, Cursor is one of several Silicon Valley startups that have attracted a wave of developers by using artificial intelligence to automate coding, a business where AI companies have found early commercial traction.
Cursor's business has grown rapidly since its founding in 2022, with about $2.6 billion in annualized business-to-business revenue and strongly growing enterprise sales, according to company data shared with Reuters reported earlier this month.
The deal could give xAI, the maker of the Grok chatbot that SpaceX merged with in February, a stronger foothold in the AI coding market, where it has so far lagged rivals. It would also give Cursor more computing power to develop AI models.
In March, two heads of product engineering at Cursor said they joined SpaceX to contribute to the company's lunar projects and xAI.
Elon Musk's company SpaceX announced on Tuesday (16) the acquisition of Anysphere, developer of the popular artificial intelligence programming agent Cursor, for US$60 billion, in an attempt to expand its presence in the corporate market of AI.
The announcement comes just days after Musk took his company, which operates in both the space and artificial intelligence sectors, public, in a high-profile debut on the Nasdaq. The operation valued the company at more than US$2 trillion, immediately making it one of the most valuable companies in the world.
SpaceX said it expects to complete the merger in the third quarter of 2026.
The company had already been showing interest in Cursor for several months. In April, SpaceX announced that it had secured an option to acquire the San Francisco-based startup for $60 billion later this year, or pay $10 billion for a new partnership between the companies.
Alongside OpenAI and Anthropic, Cursor is among the Silicon Valley startups that have attracted a slew of developers by using artificial intelligence to automate programming - one of the segments where AI companies have found commercial traction most quickly.
Since its founding in 2022, Cursor expanded its business rapidly. According to company data shared with Reuters this month, the startup records around US$2.6 billion in annualized revenue in the corporate segment (B2B), with strong growth in sales to companies.

Source: G1