SpaceX is making a big bet on artificial intelligence. The company announced Tuesday that it has agreed to acquire Cursor, the AI coding startup formally known as Anysphere Inc., in an all-stock deal that values the startup at an implied equity value of $60 billion.

The deal was disclosed in a Form 8-K filed with regulators on June 16, 2026. Under the terms, SpaceX's wholly owned subsidiary X67 Inc. will merge with Cursor, and Cursor will survive as a wholly owned subsidiary of SpaceX. The transaction is subject to customary closing conditions and regulatory approvals, and SpaceX expects it to close during the third quarter of 2026.

At closing, each outstanding share of Cursor's common and preferred stock will automatically convert into the right to receive shares of SpaceX Class A common stock. The exchange ratio will be based on Cursor's $60 billion valuation and the volume-weighted average closing price of SpaceX shares over the seven trading days immediately before the merger closes.

Investors seem to like the move. SpaceX stock rose nearly 5% in Tuesday's premarket session, continuing a powerful rally. The gains came even as broader market sentiment weakened, with Nasdaq futures down 0.17% and S&P 500 futures slipping 0.07%. Shares were trading at $201.14 in premarket, up 4.49%.

The acquisition signals SpaceX's ambition to integrate advanced AI coding tools into its operations, potentially speeding up software development for its rockets, satellites, and other projects. For Cursor, it's a massive exit — the startup, which makes AI-powered coding assistants, will now be part of one of the most valuable private companies in the world.