SpaceX said it will acquire AI coding startup Cursor in a $60 billion deal.

SpaceX on June 16 filed an 8-K with the U.S. Securities and Exchange Commission and signed an Agreement and Plan of Merger with Cursor parent Anysphere. Under the structure, SpaceX will merge its wholly owned subsidiary X67 into Anysphere, and Cursor will continue as a wholly owned SpaceX subsidiary.

The deal will be carried out as an all-share exchange with no cash. Cursor shares will automatically convert into SpaceX Class A common stock at the time of the merger, with the exchange ratio calculated based on Cursor's $60 billion equity value and the volume-weighted average of SpaceX's share price over the seven trading days immediately before the merger.

SpaceX said it expects to complete the transaction in the third quarter this year if conditions including regulatory approvals are met. The filing was signed by Chief Financial Officer Bret Johnsen (브렛 존슨).

The agreement formally exercises an acquisition option that SpaceX secured in April. At the time, SpaceX obtained the right to buy Cursor for $60 billion within the year, or pay $10 billion as consideration for joint development. The deal was confirmed four days after SpaceX listed on Nasdaq (ticker: SPCX) on June 12. The IPO raised $75 billion and valued the company at $1.75 trillion, a record high.

Founded in 2022 by four Massachusetts Institute of Technology graduates, Cursor is an AI code editor based on Visual Studio Code. It surpassed $2 billion in annualised revenue in February, reaching "zero to $2 billion" in about three years, and is regarded as the fastest-growing B2B software company on record. More than half of Fortune 500 companies and 70 percent of Fortune 1,000 companies use it.

SpaceX is quickly cementing its identity as an "AI company" beyond a rocket company after absorbing Musk's AI firm xAI in February and now adding Cursor. Musk's bet to vertically integrate computing infrastructure and developer AI is effectively being put into motion alongside the listing.