SpaceX shares hit a new high on Tuesday after Elon Musk's company announced a $60 billion all-stock deal to acquire AI coding startup Cursor, extending a post-IPO rally that has pushed ***** eX's stock above $210 per share, according to MarketWatch.
The Cursor acquisition was disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission.
"SpaceX has exercised the option to acquire [Cursor] in an all-stock transaction with the goal of building the world's most useful AI models," ***** eX said in a post on X. "For the past few months, ***** eXAI has been jointly training a model with Cursor, which will be released in Cursor and Grok Build soon."
The deal had been in the works for months. According to the filing, ***** eX secured an exclusive option in April to acquire Anysphere, the company behind Cursor, or pay a $10 billion breakup fee.
After exercising that option on June 16, ***** eX signed a $60 billion merger agreement with Anysphere and its subsidiary X67 that will make the AI coding startup a wholly owned ***** eX subsidiary. Anysphere shareholders will receive ***** eX Class A stock based on the company's average share price over the seven trading days preceding the deal's close. The acquisition is expected to close in the third quarter of 2026, pending regulatory approval.
The Cursor acquisition was disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission.
"SpaceX has exercised the option to acquire [Cursor] in an all-stock transaction with the goal of building the world's most useful AI models," ***** eX said in a post on X. "For the past few months, ***** eXAI has been jointly training a model with Cursor, which will be released in Cursor and Grok Build soon."
The deal had been in the works for months. According to the filing, ***** eX secured an exclusive option in April to acquire Anysphere, the company behind Cursor, or pay a $10 billion breakup fee.
After exercising that option on June 16, ***** eX signed a $60 billion merger agreement with Anysphere and its subsidiary X67 that will make the AI coding startup a wholly owned ***** eX subsidiary. Anysphere shareholders will receive ***** eX Class A stock based on the company's average share price over the seven trading days preceding the deal's close. The acquisition is expected to close in the third quarter of 2026, pending regulatory approval.
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