SpaceX has closed its $60 billion all-stock acquisition of Anysphere, the company behind the coding tool Cursor. The company confirmed the merger in a securities filing dated August 14. Cursor now operates as a wholly owned subsidiary under the SpaceX corporate structure.
Merger Terms Take Effect
SpaceX's subsidiary, X67 Inc., merged directly with Anysphere to complete the transaction. This structure allowed Cursor to convert into a fully owned unit without a lengthy transition period. The filing outlines exact share conversion figures tied to the deal.
Cursor's common and preferred stock converted into roughly 389.3 million shares of SpaceX stock. That figure reflects the $60 billion valuation set when the deal was first announced in June. SpaceX based the conversion on its average closing price over seven trading days before the merger closed.
Additional equity awards moved through the same process without exception. Vested restricted stock units converted into about 1.75 million shares of Class A common stock. Unvested awards converted into 29.1 million restricted units and 44.4 million stock options for future exercise.
Cursor Moves Under SpaceXAI
Cursor announced the completed deal directly on social media platform X. The company stated it will join the SpaceXAI division going forward. Its stated goal is to strengthen several existing products across the platform.
Those products include Grok Build, Grok Bot, the Grok application programming interface, and Cursor itself. SpaceX intends to fold these tools into a broader development ecosystem. The move follows closely behind the recent release of Grok 4.6.
Analysts see the timing as deliberate rather than coincidental. Grok 4.6 launched just before the merger reached completion. Company leadership positioned that release as an early signal of what a combined engineering team can produce.
Stock Slips Despite Recent Gains
SpaceX shares fell more than 2% at Thursday's market open. The stock traded near $137 shortly after the opening bell. That dip followed a five-day run in which shares climbed over 23%.
Market watchers linked the earlier rally to anticipation of the merger's completion. Grok 4.6's release also contributed to the upward momentum during that stretch. The pullback on merger day reflects a common pattern after major corporate news breaks.
Morgan Stanley issued a bullish note on SpaceX earlier in the week. Analyst Adam Jones set a bull-case price target of $600 per share. He pointed to Cursor as a major driver behind that projected upside.
Jones also highlighted the coding tool's position in a shifting software market. Code generation continues moving toward automated and commoditised workflows. Cursor, he noted, already holds a dominant position within that specific segment.
The completed deal marks one of the largest technology acquisitions of the year. SpaceX now controls a coding platform used widely across the software industry. How the integration performs will shape the next phase of the company's expansion into artificial intelligence.
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