SpaceX, fresh off its record-breaking IPO, formalized plans to purchase the startup behind the popular AI coding tool Cursor for $60 billion in an all-stock deal, marking one of the largest acquisitions of a venture-backed startup in recent years and the biggest so far in 2026. The acquisition represents an enormous return on investment for Cursor's backers. Since its founding just four years ago, parent company Anysphere raised $3.4 billion from investors including Andreessen Horowitz, repeat backer Thrive Capital, Accel and Coatue and was most recently valued at roughly $30 billion in November, per Crunchbase. The acquisition gives SpaceX, which raised $75 billion in its IPO last week, a foothold into the enterprise software development market, where AI-assisted coding has taken off and led large companies to significantly pare back their reliance on human engineers. Cursor said in November last year that it had crossed $1 billion in annualized revenue. Hawthorne, California-based...
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