SpaceX formalizes $60 billion all-stock merger to acquire Cursor: Bloomberg

SpaceX (NASDAQ: SPCX) formally agreed to get AI coding startup Cursor successful an all-stock woody valuing the institution astatine $60 billion, according to Bloomberg.

The merger agreement, filed with the SEC connected Tuesday, converts an earlier enactment statement into a binding transaction expected to adjacent during the 3rd 4th of 2026.

Under the presumption of the 8-K filing, SpaceX entered into an Agreement and Plan of Merger connected June 16 with Anysphere, the institution that operates Cursor, and X67, a wholly owned SpaceX subsidiary. X67 volition merge with and into Cursor, which volition past arsenic a wholly owned subsidiary of SpaceX. Cursor shareholders volition person SpaceX Class A communal banal based connected the implied $60 cardinal equity value, with the speech ratio determined by SpaceX's volume-weighted mean closing terms implicit the 7 trading days earlier closing.

The transaction remains taxable to regulatory approvals and different closing conditions, per the filing.

AI and Bitcoin's regular show: Subscribe to the Blockspace Podcast here, connected Apple, Spotify, oregon anyplace you perceive to podcasts.

From enactment to signed woody

SpaceX archetypal disclosed successful April that it had secured the close to get Cursor for $60 cardinal aboriginal successful the year, oregon alternatively to wage $10 cardinal for the companies' associated work. SpaceX delayed completion astatine the clip due to the fact that of its IPO process. The institution filed to database connected Nasdaq nether ticker SPCX successful May, according to CNBC, which reported a $1.25 trillion valuation pursuing SpaceX's February merger with xAI, Elon Musk's artificial quality company.

Monday's filing converts that earlier enactment into a signed merger agreement, making the $60 cardinal acquisition way the operative woody structure.

Compute meets organisation

Cursor said successful an April blog station that it had been "bottlenecked by compute" and would usage xAI's Colossus infrastructure to standard its exemplary training. Colossus, located successful Memphis, is described by The Guardian arsenic the largest supercomputer clump successful the world.

"The operation of Cursor's starring merchandise and organisation to adept bundle engineers with SpaceX's cardinal H100 equivalent Colossus grooming supercomputer volition let america to physique the world's astir utile models," SpaceX said successful its earlier announcement, per The Guardian.

Cursor said successful November 2025 that it had crossed $1 cardinal successful annualized revenue, served millions of developers, and employed much than 300 people. The institution was founded successful 2022 by 4 MIT students and launched its AI coding adjunct successful 2023.