SpaceX Finalizes $60 Billion Acquisition of AI Platform Cursor
SpaceX has completed a $60 billion stock-based acquisition of Anysphere, Inc., the developer of the AI tool Cursor. This deal marks the largest acquisition of a startup on record and is expected to generate significant revenue growth for SpaceX by 2027.
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SpaceX has finalized the acquisition of Anysphere, Inc. for $60 billion, issuing approximately 391 million Class A shares as part of the transaction, as disclosed in SEC Form 8-K. Following the announcement, SpaceX's stock (NASDAQ: SPCX) rose by 1.5%, reaching $143.45.
The acquisition converts Cursor's outstanding shares into 389.3 million SpaceX shares, alongside additional restricted stock units and options. Cursor will operate as a wholly-owned subsidiary under the new division 'SpaceXAI,' gaining access to SpaceX's Colossus supercomputer.
The company has launched a beta version of 'Grok Bot,' with analysts predicting a rebranding of Cursor to Grok. Morgan Stanley maintains a $300 price target, projecting that the acquisition could contribute up to $13 billion in revenue by 2027.
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