SpaceX to acquire Cursor for $60B in stock, days after blockbuster IPO
Key takeaways
- Space X has agreed to acquire AI coding startup Cursor in a $60 billion stock deal, just a few days after the space company s historic IPO and less than two months after announcing a tie-up between the two.
- The deal is meant to help Space X s AI division — built around Elon Musk s AI company x AI, which Space X merged with earlier this year — catch up to the major AI labs.
- SpaceX told investors during the IPO process that it sees an addressable market for AI products worth $26 trillion, roughly equivalent to U.S.
Why this matters: a development in AI with implications for how people work, create, and decide.
Space X has agreed to acquire AI coding startup Cursor in a $60 billion stock deal, just a few days after the space company s historic IPO and less than two months after announcing a tie-up between the two.
The deal is meant to help Space X s AI division — built around Elon Musk s AI company x AI, which Space X merged with earlier this year — catch up to the major AI labs. Despite being a centerpiece of its IPO promises, Space X s AI division has been in the midst of a restructuring after running into repeated controversies, like allowing users to generate non-consensual deepfakes of women and children.
SpaceX told investors during the IPO process that it sees an addressable market for AI products worth $26 trillion, roughly equivalent to U.S. GDP. SpaceX said Tuesday that the acquisition is likely to close in the third quarter of this year.