SpaceX Acquires AI Coding Tool Creator Anysphere in Record $60 Billion Deal

SpaceX finalised an all-stock acquisition of Anysphere, the company responsible for the popular AI coding tool, Cursor. The deal was valued at $60 billion, setting a new record for the largest acquisition of a venture-backed startup. Under the terms of the agreement, which was originally signed in June, all outstanding Cursor shares were converted into approximately 389 million SpaceX Class A shares.

The acquisition was valued at $60 billion, executed entirely through a stock exchange. This involved the conversion of Cursor's shares into around 389 million SpaceX Class A shares. At the time of the acquisition, Cursor served over 50,000 enterprise clients and generated an estimated annualised revenue between $2.6 billion and $4 billion.

This acquisition integrates Cursor into a newly formed SpaceXAI division, granting it access to the Colossus compute cluster located in Memphis and enabling its integration with Grok models. The move underscores SpaceX's expansion into the AI sector. Prior to this deal, Cursor had reportedly declined acquisition offers from OpenAI and garnered interest from Microsoft.

The integration of Cursor's AI coding capabilities with SpaceX's compute infrastructure and AI models could significantly impact the development of AI agent infrastructure. This record-setting acquisition highlights a broader trend of capital markets prioritising infrastructure ownership, whether physical or regulatory, over pure software subscriptions.