SpaceX Shares Hit New High as Elon Musk's Firm Agrees to Acquire AI Startup Cursor for $60 Billion

Crypto Insight Summary: Image: Shutterstock/Decrypt]( Tesla founder and X owner Elon Musk. * SpaceX agreed to acquire AI coding startup Cursor in an all-stock deal valuing the company at $60 billion. * The acquisition was disclosed in a June 16 SEC filing and is expected to close in the third quarter of 2026. * Shares of SpaceX have climbed above $200 since the company's IPO last week. SpaceX shares hit a new high on Tuesday after Elon Musk's company announced a $60 billion all-stock deal to acquire AI coding startup Cursor, extending a post-IPO rally that has pushed SpaceX’s above $210 per share, according to MarketWatch. The Cursor acquisition was disclosed in a filed with the U.S. “SpaceX has exercised the option to acquire [Cursor] in an all-stock transaction with the goal of building the world's most useful AI models,” SpaceX said in a on X. “For the past few months, SpaceXAI has been jointly training a model with Cursor, which will be released in Cursor and Build soon.” The deal had been in the works for months. According to the filing, SpaceX secured an exclusive option in April to acquire Anysphere, the company behind Cursor, or pay a $10 billion breakup fee. After exercising that option on June 16, SpaceX signed a $60 billion merger agreement with Anysphere and its subsidiary X67 that will make the AI coding startup a wholly owned SpaceX subsidiary. Crypto Insight Analysis: Direction: Neutral Impact: No Impact Horizon: Short-term (1-3 days) Reasoning: SpaceX is a private company; its acquisitions don't directly impact crypto markets.