SpaceX agrees to buy Cursor for $60 billion after IPO

SpaceX moved to turn its freshly public stock into a weapon, agreeing to spend $60 billion for Cursor and tighten its grip on the enterprise AI market. The deal goes far beyond a headline-grabbing price tag. It links Elon Musk’s rocket company to a coding startup at a moment when control over software tools, training data, and customer distribution has become the prize in the race against OpenAI and Anthropic.

The takeover had been signaled months earlier. In April 2026, SpaceX disclosed that it had secured the right to buy Cursor later in the year, setting up a transaction that became possible only after the company went public. SpaceX launched its IPO roadshow on June 4, priced the offering on June 11 at $135 a share, and closed the deal on June 15 after selling 638,888,888 shares of Class A common stock, including the underwriters’ full overallotment exercise.

SpaceX formally agreed on June 16 to take over Cursor, with investors in the startup set to receive SpaceX stock based on an implied $60 billion equity value. The merger is expected to close in the third quarter of 2026. In its IPO materials, SpaceX described Cursor as part of its enterprise AI push, said it was partnering with Cursor to advance Grok, and laid out an option to acquire the startup at the same implied valuation.

The strategic logic is clear. SpaceX’s AI division, xAI, has been trying to win enterprise coding users for Grok, while some SpaceX engineers have favored Anthropic’s Claude for technical work. Buying Cursor gives Musk a direct route into the workflow where enterprise software decisions are made, not just the model layer. It also gives SpaceX a stronger claim on the data and usage patterns that can make an AI product stick inside corporate teams.

The acquisition lands alongside another sign of the scale Musk’s businesses are now pursuing. In a June 5 SEC filing, SpaceX disclosed a cloud services agreement with Google covering about 110,000 NVIDIA GPUs, with Google set to pay $920 million per month from October 2026 through June 2029. Taken together, the IPO, the Cursor deal, and the Google contract show a company raising capital, buying distribution, and locking in compute at the same time.

That is the power-consolidation story inside the SpaceX deal. Investors are being asked to bet that vision, vertical integration, and speed will outrun the risks of stitching together rockets, social media, AI infrastructure, enterprise software, and a newly acquired coding platform. The market may be rewarding ambition, but the operational burden is growing just as fast as the balance sheet.