SpaceX has agreed to acquire Anysphere, the developer of Cursor, in an all-stock transaction that values the company at $60 billion.

SpaceX and Cursor had agreed to a deal earlier this year that gave the rocket company an option to buy the AI firm.

SpaceX exercised its option to buy Cursor for $60 billion in all stock, the largest startup acquisition ever, arming xAI and Grok against rivals Anthropic and OpenAI.