SpaceX is acquiring Anysphere, the company behind the AI coding tool Cursor, for $60 billion. The acquisition follows just days after SpaceX’s initial public offering on the Nasdaq. Through the deal, xAI—which merged with SpaceX in February—aims to secure a stronger position in the AI coding market. The transaction is scheduled to close in the third quarter of 2026.
Cursor was founded in 2022 by Anysphere in San Francisco. The company now generates approximately $2.6 billion in annual B2B revenue. That growth has been rapid: in early 2025, Annual Recurring Revenue was still at $100 million; by early 2026, it had already risen to over $2 billion. Cursor attracts clients from the Fortune 500 and is thus firmly focused on the enterprise market.
Like GitHub Copilot and products from OpenAI and Anthropic, Cursor automates coding using AI. This category is considered one of the segments where AI companies are achieving commercial success.
xAI aims for a stronger position in the coding market
SpaceX merged with xAI, the creator of the Grok chatbot, in February 2026. That merger was finalized on May 6, 2026, valuing xAI at approximately $250 billion. The acquisition of Cursor is intended to give xAI a stronger position in the AI coding market.
Another benefit of the deal is that Cursor gains access to more computing power. Cursor had previously indicated that training its own AI models was limited by a shortage of compute resources. Through xAI, it gains access to the Colossus supercluster in Memphis.
In recent weeks, SpaceX has also signed deals with Anthropic and Google to lease data capacity, totaling approximately $26 billion per year combined. Both agreements include a 90-day notice period.
SpaceX expects to complete the acquisition in the third quarter of 2026. Back in April, the company had secured an option to buy Cursor for $60 billion or enter into a partnership for $10 billion.