SpaceX formally agreed to take over Cursor in a deal that values the artificial intelligence coding startup at $60 billion, cementing a key part of Elon Musk’s efforts to catch up with rivals on coding tools.
Cursor investors will have the right to receive SpaceX stock based on the implied $60 billion equity value of the startup, according to a regulatory filing Tuesday. The deal is expected to close in the third quarter. SpaceX first revealed in April that it had secured the right to buy Cursor later this year but was holding off because of the rocket company’s initial public offering.