TL;DRSpaceX plans to acquire AI coding startup Cursor for $60 billion roughly 30 days after its IPO, which is expected to list on Nasdaq on 12 June at a $1.75 trillion valuation. The deal includes a $10 billion breakup fee and would fold one of the fastest-growing startups in history into Elon Musk’s expanding SpaceX-xAI empire.
SpaceX expects to complete its $60 billion acquisition of AI coding startup Cursor roughly 30 days after it begins trading publicly, according to Bloomberg, a timeline that would place the deal in July if the company’s blockbuster IPO proceeds on schedule.
The rocket, satellite, and artificial intelligence conglomerate is planning to file its public IPO prospectus as soon as Wednesday and list shares on the Nasdaq on 12 June under the ticker SPCX. SpaceX is seeking to raise $75 billion at a valuation of roughly $1.75 trillion, which would make it the largest stock-market debut in history, eclipsing Saudi Aramco’s $29.4 billion offering in 2019.
SpaceX disclosed in April that it had secured an agreement giving it the right to acquire Cursor for $60 billion. If the deal falls apart, SpaceX would instead pay a $10 billion breakup fee in cash for the companies’ joint work. The announcement, made on X, said the two firms were “now working closely together to create the world’s best coding and knowledge work AI.”
