SpaceX Pursues Cursor Acquisition After IPO, Targets July Close
Summary
- SpaceX plans to complete the Cursor acquisition within about 30 days of its listing.
- Bloomberg reported that the deal includes a $10 billion cash breakup fee payable to Cursor if the transaction falls through.
- SpaceX is seeking to raise as much as $75 billion in the IPO and is valued at more than $2 trillion.
Forecast Trend Report by Period
SpaceX, Elon Musk’s space company, is pursuing an acquisition of AI coding startup Cursor, Bloomberg reported on May 19.
The company plans to complete the deal within about 30 days of its stock-market listing. SpaceX is expected to file for an initial public offering as early as May 21 and list on June 12.
If that timeline holds, the Cursor acquisition would likely be completed in July. Bloomberg also reported that the deal includes a $10 billion cash breakup fee payable to Cursor if the transaction collapses.
SpaceX said in April that, following its merger with xAI, it had secured the right to acquire Cursor in a deal valuing the company at as much as $60 billion. At the time, it said the two companies were working together to develop “world-class AI for coding and knowledge work.”
Cursor, launched in 2023, is an AI-powered coding assistant. The service supports developers with writing and debugging code and has quickly emerged as one of the key players in the AI coding market. It recently unveiled a new AI coding model, Composer 2.5.
Separately, SpaceX is seeking to raise as much as $75 billion in the IPO and is valued at more than $2 trillion.
