Breaking: Elon Musk’s SpaceX to Acquire Cursor AI Tool Firm Anysphere

Elon Musk’s SpaceX on Tuesday said it will acquire Anysphere, the company behind the AI coding tool Cursor. Three companies have entered into a merger agreement that will make Cursor a wholly owned SpaceX subsidiary.

Elon Musk’s SpaceX Announces Mega Merger with Anysphere

Space Exploration Technologies Corp and its subsidiary X67 Inc have entered into an agreement with Anysphere Inc, according to an announcement on June 16.

X67 Inc will merge with and into Cursor, with Cursor becoming a wholly owned subsidiary of SpaceX. The companies noted that the transaction is subject to the satisfaction or waiver of the closing conditions set forth in the merger agreement, including regulatory approvals.

Cursor’s common stock and each share of Cursor’s preferred stock outstanding immediately prior to an effective time of the merger will be automatically converted into the right to receive shares of the Company’s Class A common stock.

Notably, SpaceX will acquire Anysphere in an all-stock transaction, which will value Cursor at $60 billion. The company currently expects the merger to close during the third quarter of 2026.

Earlier in April, SpaceX showed interest in acquiring Anysphere. The company planned to pay $10 billion “for their work together” if the deal broke. It marked one of the largest termination fees in history, which signals the companies have no intention of backing out.

Cursor has $2 billion in annualized revenue and its users are mostly elite software engineers. This is exactly the kind of customer base Elon Musk wants heading into SpaceX after the IPO.

SPCX Stock Pumps Further

SpaceX (SPCX) stock closed 19.60% higher at $192.50 on Monday amid a broader market surge amid the US-Iran peace deal. The stock further climbed 11.57% to $214.86 in overnight trading.

In premarket trading hours today, SPCX stock price has surged nearly 9% to trade near $209 at press time. Overnight price spike sees SpaceX overtake Amazon as America’s 5th-largest company. Elon Musk targets SpaceX to reach a $1 trillion in revenue in 2030, following Cursor’s acquisition.

According to CoinGape analysts, SPCX stock faces major resistance between $220 and $225. A breakout above the range will trigger a move to $240.

Mad Money On CNBC host Jim Cramer said SpaceX has become a meme stock, and he hates to see this happening. He added that the company has walked out the size of Nvidia over a few days, with no sellers.

Maybe it's okay to you, but I would hate to see a meme stock–what SpaceX stock has become–walked to the size of Nvidia over a series overnight moves with no sellers. But that seems to be the goal. Maybe early release of those who want to go?? I am uncomfortable watching a stock…

— Jim Cramer (@jimcramer) June 16, 2026