SpaceX has finalized its $60 billion all-stock acquisition of Anysphere, the developer of the AI coding tool Cursor. The deal was confirmed via an SEC Form 8-K filing and became effective on August 14, 2026, two months after SpaceX first announced the agreement. It is widely considered the largest startup acquisition on record.
The transaction involved SpaceX issuing approximately 391 million Class A shares. Cursor’s outstanding shares converted into 389.3 million SpaceX shares, with additional restricted stock units and options assumed by SpaceX. Following the announcement, SpaceX stock rose 1.5% to trade at $143.45. Cursor will now operate as a wholly owned subsidiary inside SpaceX’s newly rebranded SpaceXAI division.
Cursor launched in 2023 as an AI assistant designed to help programmers write and debug code more efficiently. It became one of the fastest-growing startups on record and was a central product during the tech industry’s “vibe coding” era. Under SpaceXAI, the Cursor team gains access to SpaceX’s Colossus supercomputer, and the combined entity has already launched a beta version of a product called Grok Bot. Analysts expect the Cursor brand to eventually be phased out in favor of the Grok name.
Wall Street analysts offered mixed but generally positive views. Morgan Stanley maintained a $300 base price target on SpaceX, projecting that the Cursor acquisition could drive up to $13 billion in SpaceX revenue by 2027. Mizuho analyst Brett Linzey reiterated an Outperform rating and a $200 price target, saying the new Grok 4.6 model now offers frontier-level performance and could help SpaceXAI attract more enterprise customers. Lower pricing and Cursor’s developer distribution channel were also cited as potential advantages.
Despite the acquisition news, SpaceX shares came under pressure. The stock was down 3% at $137.52 in early trading Friday, after closing about 3% lower on Thursday at $141.29. That left shares slightly above their $135 IPO price but about 30% below their June 16 closing high of $201.80. SpaceX began trading on the Nasdaq in June after raising about $85.7 billion in what was described as the largest IPO on record. Shares were priced at $135 and climbed as high as $225.64 during the first week of trading.
Another factor weighing on the stock is the upcoming lockup expiration. About 320 million additional shares are expected to become eligible for trading on August 20. The first major tranche of more than 900 million shares became eligible for sale on August 6, and the stock gained around 22% in the following week, defying expectations of a sharp selloff. The next expiration could extend the volatility that has characterized SpaceX shares since their market debut.
