Overview
- SpaceX signed a definitive merger agreement on Tuesday, June 16, 2026, exercising an April option and saying the all‑stock deal is expected to close in the third quarter pending regulatory approvals.
- Under the agreement, all outstanding Anysphere (Cursor) common and preferred shares will convert into SpaceX Class A stock using a volume‑weighted average closing price over the seven trading days before closing, and a SpaceX unit called X67 will merge into Cursor.
- SpaceX and xAI plan to combine Cursor’s widely used coding tools and Composer model with SpaceX’s Colossus training cluster to speed model development and compete more directly with OpenAI, Anthropic and other AI platform providers.
- The transaction follows SpaceX’s record IPO days earlier and uses public stock as the consideration, reflecting the company’s recent lift in valuation and its need for product distribution and developer data to scale enterprise AI offerings.
- The deal faces regulatory review and customary closing risks and includes termination and antitrust fee provisions, which could delay, alter, or block the merger and affect Cursor’s existing model and cloud partnerships.