SpaceX is buying AI coding startup Cursor for $60 billion
Key takeaways
- The all-stock acquisition concludes an agreement the two announced in April.
- Walter Cicchetti/Shutterstock Space X has agreed to buy AI startup Cursor for $60 billion in stock, concluding a deal that was first announced earlier this year.
- Cursor is known for its AI coding tool of the same name.
The all-stock acquisition concludes an agreement the two announced in April.
Walter Cicchetti/Shutterstock Space X has agreed to buy AI startup Cursor for $60 billion in stock, concluding a deal that was first announced earlier this year. In April, the two companies signed a partnership that saw Space X agree to either invest $10 billion into Cursor or buy it outright for $60 billion. Now, less than two months later, the two are moving forward with an acquisition, which Space X expects to close later this year.
Cursor is known for its AI coding tool of the same name. As recently as April, the company was reportedly in talks to raise approximately $2 billion in new funding from Andreessen Horowitz, NVIDIA and other investors. However, TechCrunch reports that even had Cursor secured that funding, it wouldn't have been enough for it to break even. That's despite the company raising $2.3 billion last year.