- SpaceX shares rose nearly 17% after announcing a $60 billion acquisition of AI firm Anysphere Inc
- The deal will merge Cursor, Anysphere's AI coding assistant, as a wholly owned SpaceX subsidiary
- SpaceX aims to enhance AI capabilities by combining Cursor's platform with its Colossus supercomputer
Shares of Space Exploration Technologies Corp. surged nearly 17% on Tuesday, extending gains just days after its market debut, as investors welcomed the company's planned $60 billion acquisition of AI software firm Anysphere Inc., the developer of coding assistant Cursor.
The stock climbed as much as 16.95% to $225.13, adding to the post-IPO momentum following SpaceX's listing last week.
The rally comes after SpaceX agreed to acquire Cursor in a transaction that values the AI startup at about $60 billion. According to Bloomberg, the deal stems from an agreement signed in April that gave SpaceX the option of either paying a $10 billion fee linked to the companies' collaboration or acquiring the company outright for $60 billion.
ALSO READ: SpaceX Expands AI Push With $60 Billion Acquisition Of Coding Agent Operator Cursor
SpaceX had deferred a decision on the acquisition due to its impending initial public offering, which was completed last week, Bloomberg reported.
Under the terms of the transaction, SpaceX subsidiary X67 Inc. will merge with Cursor, making the AI startup a wholly owned subsidiary of the aerospace company. The deal is expected to close in the third quarter of the current fiscal year.
Investors are betting that the acquisition will significantly strengthen SpaceX's artificial intelligence capabilities by combining Cursor's fast-growing software platform with the company's large-scale computing infrastructure.
"The combination of Cursor's leading product and distribution to expert software engineers with SpaceX's million H100 equivalent Colossus training supercomputer will allow us to build the world's most useful models," SpaceX said in a post on X in April.
Cursor has emerged as one of the fastest-growing AI software companies. The startup surpassed $4 billion in annualised revenue by the end of May, up from $3 billion in late April and $2 billion in February, underscoring rapid adoption despite intense competition from AI heavyweights including OpenAI and Anthropic.
ALSO READ: UPI Footprint Expands: Piyush Goyal Launches Payments Platform In France's Nice Massena
Originally launched as a tool for individual developers, Cursor has increasingly shifted its focus toward enterprise customers. The company's enterprise business tripled in the first quarter compared with the final quarter of 2025, according to reports.
The acquisition is expected to provide Cursor with access to significantly greater computing resources while enhancing SpaceX's AI-driven software development capabilities, deepening Elon Musk's presence in the rapidly expanding artificial intelligence sector.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
