SpaceX is acquiring Anysphere, the developer of AI coding tool Cursor, in an all-stock deal valued at $60 billion. The transaction is expected to close in the third quarter of 2026.
The two companies had struck a partnership in April 2026 that gave SpaceX the exclusive option to buy Anysphere for $60 billion. If SpaceX walked away, it would have to pay $10 billion as compensation for joint development. By signing a formal merger agreement, SpaceX is now exercising that option.
Anysphere's Cursor is one of the most popular AI programming tools, with roughly 70 percent of Fortune 1000 companies as active users. The company's annualized recurring revenue (ARR) doubled in four months, from $2 billion in February 2026 to $4 billion by early June. Before agreeing to the acquisition, Anysphere was valued at $29.3 billion at the end of 2025 and was planning to raise a new round at a $50 billion valuation.
SpaceX is pushing deeper into enterprise AI through M&A. The company already merged with xAI, the maker of the Grok chatbot, back in February, but xAI has lagged behind OpenAI and Anthropic in code generation. After the deal closes, Anysphere will get access to plenty of computing power to develop next-generation AI models.