SpaceX to acquire the AI coding startup Cursor for $60 billion
CNBC 2 months ago 19 ● 3 sources
SpaceX announced a $60 billion acquisition of Cursor, an AI coding tool startup founded in 2022, using stock from its recent IPO. The deal values Cursor at $60 billion in SpaceX class A shares, representing a 3.4% dilution to the aerospace company's IPO valuation, with closure expected in Q3 2024. The acquisition aims to strengthen SpaceX's AI capabilities to compete with rivals like Anthropic and OpenAI, though Cursor's market share has declined from 41% to 26% in recent months.