SpaceX has signed a binding, all-stock deal to buy Cursor maker Anysphere at a $60bn value, days after its record IPO. The merger is set to close in Q3.

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.