business
SpaceX Issues $60 Billion in Stock to Acquire Cursor Four Days After IPO
SpaceX bought the AI coding software firm using shares valued at the post-IPO price. Cursor reported $4 billion in annualized revenue at the start of June.
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SpaceX acquired Cursor, the maker of AI-assisted coding software, for $60 billion in stock on Tuesday, June 16, 2026. U.S. Securities and Exchange Commission.
The deal came four days after SpaceX went public on Friday, June 12. 5 trillion following the IPO, a figure more than 100 times its revenue at the time. Cursor's annualized revenue reached $4 billion at the start of June 2026, according to The Wall Street Journal.
The company had grown from $100 million to $1 billion in annualized revenue during 2025 before the further increase this year. Cursor develops tools that compete with Claude Code from Anthropic and Codex from OpenAI. Its software is designed to help businesses write code more quickly.
SpaceX is headquartered in Hawthorne, California. The acquisition was announced inside that headquarters on June 8, 2026, six days before the IPO.
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