SpaceX said on Tuesday that it would acquire the parent company of Cursor, an artificial intelligence code-writing start-up, for $60 billion, just days after its record-breaking debut on public markets for Elon Musk’s rocket and A.I. company.
SpaceX agreed to a deal with Cursor in April that gave it the option to acquire the company, an arrangement that would “allow us to build the world’s most useful” A.I. models, SpaceX said at the time.
It pushed ahead with an all-stock acquisition with Anysphere, the parent of Cursor, after SpaceX’s initial public offering last week. The company’s shares have continued to climb sharply since they started trading on Friday, making Mr. Musk the world’s first trillionaire.
The company is now valued at roughly $2.5 trillion. Its stock rose more than 5 percent in premarket trading on Tuesday.
Mr. Musk, who is also the chief executive of Tesla, has been increasingly interested in expanding his empire into A.I. He founded xAI, the maker of the Grok chatbot that was built to compete with rivals like OpenAI’s ChatGPT and Anthropic’s Claude. In February, SpaceX merged with xAI in a deal that valued the combined venture at more than $1 trillion.
SpaceX has also announced plans for a huge A.I. chip manufacturing plant in Texas, and it has inked deals with both Google and Anthropic to provide computing power.
Mr. Musk’s companies have a history of merging with one another, but they rarely acquire outside companies.
The acquisition of Cursor is expected to close in the third quarter of this year, SpaceX said in a regulatory filing.
Cursor was founded in 2022 and quickly made waves as tech companies adopted its tools. It amassed billions in funding from top investment firms including Thrive Capital, Andreessen Horowitz and Accel.
In April, when the potential acquisition was first announced, Cursor said that its lack of access to computing power for training its A.I. models had “bottlenecked” its growth. The deal with SpaceX would give it access to xAI’s infrastructure.
