Space Exploration Technologies Corp. (NASDAQ: SPCX) has entered into a merger agreement to acquire Anysphere, Inc., the company behind the AI coding tool Cursor, in an all-stock transaction valuing Cursor at $60.0 billion, according to a press release statement.

Under the terms of the agreement, signed on June 16, 2026, a wholly owned SpaceX subsidiary, X67 Inc., will merge with and into Cursor, with Cursor surviving as a wholly owned subsidiary of SpaceX.

Each share of Cursor's common and preferred stock will be converted into the right to receive shares of SpaceX's Class A common stock. The share conversion will be based on Cursor's implied equity value of $60.0 billion and the volume-weighted average closing price of SpaceX's Class A common stock over the seven consecutive trading days immediately preceding the closing of the merger.

The transaction is subject to regulatory approvals and other closing conditions outlined in the merger agreement. SpaceX expects the deal to close during the third quarter of 2026.