SpaceX Buys AI Coding Startup For $60 Billion

SpaceX shares surged again early Tuesday, putting the stock on track to open above $200 per share during its second full day of public trading.

The rally came after SpaceX announced a $60 billion agreement to acquire Anysphere, the parent company of the AI coding platform Cursor.

The acquisition had been widely anticipated. Earlier this year, SpaceX revealed it was in discussions that could either result in a $60 billion purchase of Anysphere or a $10 billion strategic partnership.

Founded in 2022, Cursor develops AI-powered tools that help software developers write and automate code. They reportedly generate about $2.6 billion in annualized business-to-business revenue.