Just days after making history with the world's largest IPO on the Nasdaq, Elon Musk's SpaceX has taken another major step by announcing the acquisition of Cursor, an AI coding startup valued at $60 billion (around 2 trillion baht), through an all-stock transaction.
Although Cursor is not as widely known as OpenAI or Anthropic, it is regarded among software developers and Silicon Valley investors as one of the fastest-growing AI startups and a key player in the emerging era of AI-driven software development. The "Vibe Coding" era. This refers to software development by commanding AI through natural language instructions.
Cursor was developed by Anysphere, founded in 2022 by Michael Truell and his MIT colleagues, most of whom are in their early twenties.
Cursor’s strength lies in transforming AI from a general question-answering assistant into a programming assistant capable of understanding entire project structures, automatically generating, editing, reviewing, and verifying code, rapidly gaining popularity among developers.
Within just four years, the company grew from a new startup into one of the hottest AI unicorns, with annualized revenue surpassing $1 billion in 2025 and exceeding $2 billion in 2026, driven by a global customer base of developers and large organizations.
However, Cursor’s success has come amid intensifying competition, especially from Anthropic’s Claude Code and OpenAI’s coding tools, which are vying for the same market share, causing Cursor’s share to decline recently.
Reports indicate that the $60 billion acquisition will be paid by SpaceX in Class A common stock, resulting in approximately 3.4% dilution relative to the company’s valuation at IPO. Following the deal announcement,
Gwynne Shotwell, SpaceX’s President and Chief Operating Officer, told CNBC that the partnership with Cursor “makes strong business sense.” The company disclosed in its SEC filings that it expects the deal to close in Q3 this year, pending regulatory approvals.
Following this, SpaceX’s shares rose about 16%, propelling the company’s market capitalization past Amazon and Microsoft to become the fourth most valuable company in the United States.
From SpaceX’s perspective, this acquisition opens the door to the AI enterprise market, currently one of the most lucrative segments of the AI industry. Previously, Elon Musk merged xAI with SpaceX to consolidate AI resources and infrastructure, but the company was still seen as trailing competitors like OpenAI, Anthropic, and Google in enterprise AI products and developer tools.
Acquiring Cursor addresses three major weaknesses:
. Michael Truell, Cursor’s CEO, expressed on X that he is excited to collaborate with SpaceX’s team to expand Composer’s capabilities, referencing the company’s AI models and calling this a significant step toward building the best AI coding platform.
Broadly, this deal reflects Elon Musk’s strategy to leverage SpaceX’s massive post-IPO market value to accelerate building an AI empire to compete with rivals. Over the past two years, OpenAI acquired Jony Ive’s design firm to enter AI hardware, while Anthropic built a strong user base through Claude Code, becoming a leader in AI coding.
If the Cursor deal closes as planned in Q3, SpaceX may transform from merely a space and satellite internet company into a major player in AI infrastructure and AI software markets, sectors expected to be among the world’s most valuable industries in the coming decade.
Source information CNBC
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