SpaceX acquires AI firm Cursor for $60 billion
Following its record-breaking IPO, Elon Musk’s space group continues its diversification drive
The US space group of Elon Musk SpaceX is set to acquire the company that produces AI-assisted coding software Cursor, for an estimated valuation of $60 billion in shares, according to a document filed today with the US Securities and Exchange Commission (SEC).
SpaceX, which on Friday broke the record for the largest IPO in history and intends to increase its diversification in the artificial intelligence sector, announced a partnership with Cursor in April, accompanied by a call option.
The deal is set to strengthen SpaceX’s AI-powered programming capabilities. The company is competing with Anthropic and OpenAI in the development of generative AI tools for consumers and businesses. Musk has stated that xAI is lagging behind its rivals, particularly when it comes to software development tools: this is why he had already begun recruiting engineers from Cursor.
Cursor sells tools designed to help programmers write and debug code more efficiently. The company has quickly become one of the fastest-growing start-ups of all time and a key player in the era of ‘vibe coding’, thanks to soaring demand among software developers for tools based on chatbot prompts.
