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SpaceX Buys AI Coding Startup Cursor for $60 Billion

SpaceX to acquire the AI coding startup Cursor for $60 billion

SpaceX on Tuesday announced it entered a formal agreement to buy the artificial intelligence startup Cursor for $60 billion worth of stock, a hotly anticipated deal.

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Not everyone believes SpaceX is overvalued, though. Investment bank Oppenheimer and Co. raised its projection for SpaceX stock from $190 to $250 following the acquisition disclosure. Analyst Timothy Horan said that SpaceX "owns every layer of the AI stack, giving it cost and quality advantages," and that Cursor is a major component of that.

SpaceX is buying AI coding startup Cursor for $60 billion

Elon Musk's rocket company announced on Tuesday that it had exercised its option to buy AI coding startup Cursor for $60 billion.