SpaceX locks in options worth $60 billion to acquire, jointly developing AI coding

SpaceX announced on the X platform on April 21 that it has entered into a partnership with AI programming startup Cursor (developer Anysphere) to jointly develop “the world’s best programming and knowledge work AI”; under the terms of the agreement, SpaceX receives an option to acquire Cursor for $60 billion later this year, and if it does not exercise the option, it must pay $10 billion as a partnership fee.

Partnership Terms and Financial Framework

According to SpaceX’s announcement on the X platform and a Reuters report, the transaction framework is as follows: SpaceX is granted an option to acquire Cursor for $60 billion later this year; if SpaceX chooses not to exercise the acquisition option, it must pay $10 billion as the fee for this partnership; as of the time of the announcement, Cursor’s valuation had reached $60 billion. Reuters said Cursor had not yet responded to requests for comment.

Cursor Updates: Valuation, Funding, and Product Metrics

According to a TechCrunch report, Cursor is nearing completion of at least $2 billion in new fundraising led by Thrive and Andreessen Horowitz, with a target valuation of $50 billion. Battery Ventures and Nvidia are also expected to participate; this round is expected to bring Cursor’s valuation to nearly double from $29.3 billion six months ago, though the final terms could still change.

Public data shows that Cursor’s annualized revenue had already exceeded $8B at the beginning of 2026, with daily active users surpassing 1 million. More than half of Fortune 500 companies have adopted its product, and revenue is shifting toward large enterprise orders.

SpaceX Integration Background, FTX Ties, and IPO Plans

According to public information, in February 2026 SpaceX completed its acquisition of xAI through an all-stock transaction, and xAI is now a division under SpaceX. SpaceX plans to go public in June 2026 with a $1.75 trillion valuation, seeking $75 billion in financing. Two product engineering leaders at Cursor, Andrew Millich and Jason Ginsberg, joined SpaceX in March 2026 to work on the lunar program and related efforts involving xAI.

According to FTX bankruptcy filings, Alameda Research invested $200k in Anysphere (Cursor’s parent company) in April 2022 and received about 5% of the shares. In April 2023, FTX’s bankruptcy management entity sold the aforementioned shares for $200k. Based on Cursor’s current valuation of $60 billion, the implied value of that 5% stake is about $3 billion.

Frequently Asked Questions

What are the specific terms of the partnership between SpaceX and Cursor?

According to SpaceX’s April 21, 2026 announcement on the X platform and a Reuters report, SpaceX is granted an option to acquire Cursor for $60 billion later this year; if it does not exercise the option, it must pay $10 billion as a partnership fee; the partnership goal is to jointly develop the world’s best programming and knowledge work AI.

What are the details of Cursor’s latest funding round reported by TechCrunch?

According to a TechCrunch report, Cursor is nearing completion of at least $2 billion in new fundraising led by Thrive and Andreessen Horowitz, with a target valuation of $50 billion. Battery Ventures and Nvidia are expected to participate, and the final terms could still change.

What is the status of SpaceX’s IPO plans and the integration with xAI?

According to public information, SpaceX completed an all-stock acquisition of xAI in February 2026. It plans to go public in June 2026 with a $1.75 trillion valuation, seeking $75 billion in financing.