SpaceX Plans to Buy AI Coding Startup Cursor Within a Month of IPO
Summary
- SpaceX has decided to pursue the acquisition of AI coding startup Cursor within a month of its IPO, according to a report.
- SpaceX is preparing to submit an IPO filing for a Nasdaq listing to the US Securities and Exchange Commission and plans to go public on June 12.
- The Financial Times reported that SpaceX agreed to acquire Cursor for $60 billion and would face a $10 billion strategic partnership obligation if the deal falls through.
Forecast Trend Report by Period
Elon Musk’s SpaceX has decided to acquire AI coding startup Cursor within a month of its initial public offering, Bloomberg reported on May 19.
SpaceX is preparing to file for a Nasdaq IPO with the US Securities and Exchange Commission as early as May 21 and plans to list on June 12, the report said. If the IPO is completed, SpaceX will acquire Cursor in July. Founded in Silicon Valley in 2022, Cursor develops software that automates AI code writing. The company has raised $3.4 billion to date.
The Financial Times reported in April that SpaceX had agreed with Cursor parent Anysphere to acquire the company for $60 billion. If the deal falls through, SpaceX would be required to pay Anysphere $10 billion and enter into a strategic partnership, according to the FT.
Lee Mi-a, Hankyung.com reporter mia@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
