SpaceX agrees $60bn deal to buy AI coding start-up Cursor

Elon Musk's SpaceX has struck a formal agreement to acquire the AI coding start-up Cursor for $60 billion in an all-stock transaction, taking over the firm's parent company, Anysphere.

The deal, announced on Tuesday, comes only days after SpaceX listed on the Nasdaq in the largest initial public offering on record. Shares in the rocket maker climbed roughly 16% on the day of the Cursor announcement alone, and have risen from their $135 listing price to around $209 since flotation. The rally has taken SpaceX's market value to about $2.78 trillion, overtaking Amazon's roughly $2.66 trillion and making the company, by the BBC's count, the world's fifth most valuable listed firm. By CNBC's separate measure of US-listed companies, the same move puts SpaceX fourth in the country, also ahead of Amazon and Microsoft. Either measure the arrival is impressive.

Cursor, which launched in 2022, makes software that uses AI to help programmers write, tidy up and check code, and by last November had reached $1 billion in annualised revenue. That growth has not stopped its market share shrinking; Ramp's spending data shows the figure down from 41% in June 2025 to roughly 26% by May, with Anthropic now holding around half of the market on its own.

According to an SEC filing, SpaceX expects the merger to close in the third quarter, subject to regulatory approval. Should it fail to complete, the company has agreed to pay Cursor a termination fee of $1.5 billion plus $8.5 billion in computing resources.

Who Owns AI Security in the Enterprise? Governance Is Still in Its Infancy

Who actually owns AI security in your organisation — and how mature is your governance around it? Two senior CISOs from vastly different environments give a straight answer: ownership sits with the CISO for now, and governance, even in well-run programmes, is still in its infancy. AI is shifting enterprise risk from defending infrastructure to defending decisions. Agentic AI operates semi- or fully autonomously, traditional security controls don’t fit probabilistic systems, and no single vendor covers the full attack surface. Speakers: Andy Holliday, CISO at Petrofac, Lester Godsey, CISO at Arizona State University and Stewart Tinson, Project Director, AI-360 You’ll learn: • Why the CISO is the only realistic owner of AI security risk for the next 5 years • Why agentic AI breaks deterministic security controls and what to do about it • How ASU built an actionable AI framework supporting 60+ large language models • Practical controls: API key hygiene, command whitelists, blast radius reduction • Why no single vendor can cover AI security end-to-end Key topics: Agentic AI risk • AI governance maturity • Threat model transformation • CISO ownership • Incident response for AI • Ethics & training data bias • Vendor landscape reality • Probabilistic vs deterministic controls For CISOs, CIOs, and risk leaders making decisions about AI adoption now.

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