SpaceX To Acquire AI Coding Startup Cursor For $60 Billion

SpaceX has agreed to acquire Cursor for $60 billion in stock, adding the popular AI coding assistant to Elon Musk's newly public aerospace-and-AI conglomerate. CNBC reports: Cursor built a popular AI coding tool that helps software developers generate, edit and review code, and the company has experienced explosive growth since its founding in 2022. In November, Cursor said it crossed $1 billion in annualized revenue, according to a release at the time. Cursor was also ranked at No. 37 on the annual CNBC Disruptor 50 list in 2026. [...] Musk merged SpaceX with his AI startup, xAI, earlier this year, and the Cursor deal looks set to help revitalize the company's efforts to compete with rivals like Anthropic and OpenAI, which also offer popular coding tools. SpaceX expects the merger to close during the third quarter of this year, according to a filing with the Securities and Exchange Commission. The transaction is subject to "requisite regulatory approvals," the filing said.

Read more of this story at Slashdot.