Elon Musk’s SpaceX has announced that it will acquire AI -powered coding startup Cursor for $60 billion, as it looks to re-enter the race to develop state-of-the-art coding agents. The move comes as Musk works to improve the coding capabilities of his Grok family of AI models.

SpaceX will move forward with its $60 billion acquisition of artificial intelligence startup Cursor as Elon Musk‘s space exploration and AI company seeks a competitive edge against rivals Anthropic and OpenAI after its Wall Street debut last week.

The deal signals SpaceX's growing focus on artificial intelligence and software development as well as rocket building.

SpaceX exercised its option to acquire Cursor in an all-stock deal, bolstering Elon Musk’s ambitions in artificial intelligence.

SpaceX's stock appreciated by the entire $60 billon price of Cursor in just a matter of hours on its first day of trading, showing the power of Elon Musk's new acquisition supercurrency.

SpaceX will move forward with its $60 billion acquisition of AI startup Cursor as Elon Musk's company seeks a competitive edge against Anthropic and OpenAI after its Wall Street debut.

Technically, SpaceX had 30 days following its record-shattering public debut to decide on a $60 billion takeover of the AI coding startup Cursor. In the end, all it took was two trading days.

SpaceX has agreed to buy AI coding start-up Cursor for $60bn (£45bn) just days after its bumper initial public offering (IPO). Elon Musk's rocket company will take over Anysphere, which makes the artificial intelligence coding agent.