In a Form 8-K filed June 16, 2026, SpaceX disclosed that it, a wholly owned merger subsidiary, and Anysphere, Inc., maker of the Cursor AI code editor, entered into an Agreement and Plan of Merger. Under the deal the merger subsidiary will merge into Anysphere, leaving Cursor a wholly owned SpaceX subsidiary, subject to closing conditions including required regulatory approvals.
The merger is all-stock. Per the filing, each share of Cursor common and preferred stock converts into SpaceX Class A common stock based on an implied equity value of Cursor of 60.0 billion dollars, with the exchange ratio set by the volume-weighted average closing price of SpaceX stock over the seven trading days before closing. SpaceX expects the merger to close during the third quarter of 2026.
The acquisition is among the largest of a venture-backed startup on record and SpaceX’s first major deal after its Nasdaq IPO. Positioned alongside the xAI ecosystem, it puts SpaceX into direct competition with Anthropic and OpenAI in AI-assisted software development. For a business reader, the size of the price signals that AI coding tools are now treated as strategic infrastructure that the largest players will pay enormous sums to own.