Space Exploration Technologies Corp. (NASDAQ: SPCX), better known as SpaceX, has announced its first acquisition as a public company.
SpaceX announced a merger agreement with Anysphere, the maker of AI coding assistant Cursor, according to a Form 8-K the company filed with the U.S. Securities and Exchange Commission (SEC) on June 16. The all-stock transaction values the startup at $60 billion and is expected to close in the third quarter of 2026.
Before the deal can close, it must satisfy several conditions, including obtaining the necessary regulatory approvals. The deal deepens SpaceX’s push into enterprise AI, with Anysphere potentially helping xAI outshine its competitors.
Anysphere, founded in 2022 by four MIT students, has grown fast. For instance, its AI code editor, Cursor, went from about $100 million in annual recurring revenue in early 2025 to $2 billion by February 2026, then to $3 billion by late April, per an update from Bloomberg.
By then, more than 3,000 customers were each paying at least $100,000 a year. A $2.3 billion Series D last November valued the startup at $29.3 billion, and by April, it was reportedly in talks to raise more at a valuation of around $50 billion.
SpaceX stock surges on acquisition deal
Following the announcement of the acquisition bid on Tuesday, SPCX stock surged further in premarket trading. As of press time, SPCX stock traded at about $201.78, up 4.84% from Monday’s closing value. As such, the company had a market capitalization of approximately $2.5 trillion at the time of publication.
The $60 billion deal to acquire Anysphere could see SpaceX spend 80% of the $75 billion raised in the IPO. As such, SPCX stock could be heavily influenced by the final results of this deal, which is still subject to regulatory scrutiny.
