June 16 (Reuters) – Elon Musk’s SpaceX said on Tuesday it would acquire Anysphere, the software firm behind the popular AI coding agent Cursor, for $60 billion, in a bid to ramp up its presence \u200cin the enterprise AI market.<\/p>\n
The announcement comes days after Musk took the rockets-to-AI company public in a \u200cblockbuster Nasdaq debut that valued the firm at more than $2 trillion and immediately made it one of the world’s most valuable companies.<\/p>\n
SpaceX had been \u200beyeing Cursor for several months. The company said in April it had secured an option to either acquire the San Francisco-based company for $60 billion later this year, or pay $10 billion for a new partnership.<\/p>\n
The deal could give xAI, the Grok chatbot maker that SpaceX merged with in February, a stronger foothold in the AI coding market where it has so far lagged \u200crivals. It would also provide Cursor with \u2060more computing capacity to develop AI models.<\/p>\n
SpaceX’s shares were up nearly 10% in premarket trading, on track to add about $247 billion to its market capitalization of $2.53 trillion. At $211.27, the stock has \u2060climbed more than 56% from its IPO price of $135.<\/p>\n
If the gains hold, SpaceX is set to overtake Amazon in market value to become the fifth-largest company.<\/p>\n
Along with OpenAI<\/a> and Anthropic, Cursor is one of several Silicon Valley startups that have drawn waves \u200bof developers \u200bby using artificial intelligence<\/a> to automate coding, a business where \u200bAI companies have found early commercial traction.<\/p>\n Cursor’s business \u200chas scaled rapidly since its founding in 2022, with roughly $2.6 billion in annualised business-to-business revenue and enterprise sales growing sharply, according to company data shared with Reuters earlier this month.<\/p>\n