SpaceX to buy AI coding firm Anysphere for $60bn and passes Amazon valuation

SpaceX staff and guests celebrate the company’s IPO in New York on Friday. Photograph: Brendan McDermid/Reuters View image in fullscreen SpaceX staff and guests celebrate the company’s IPO in New York on Friday. Photograph: Brendan McDermid/Reuters SpaceX to buy AI coding firm Anysphere for $60bn and passes Amazon valuation Elon Musk firm adds startup behind Cursor app to its portfolio with xAI and reaches $2.8tn market capitalisation Elon Musk’s SpaceX is buying the startup behind the AI-powered coding app Cursor for $60bn (£44bn) and has moved ahead of Amazon in valuation days after its stock market debut . The company has agreed to buy Anysphere, which has capitalised on AI’s success as a coding technology. SpaceX is the parent of Musk’s AI business xAI, which will be able to boost its capabilities in an area – AI systems writing code – that has proven to be a strong commercial success for Anthropic, the rival company behind the Claude chatbot. The news was announced as SpaceX passed Amazon in market capitalisation, an important measure of value for a publicly listed company. SpaceX was worth just under $2.8tn after its shares rose by 13% on opening on the Nasdaq index on Tuesday, overtaking Amazon’s $2.66tn to become the world’s fifth most valuable company by market value. SpaceX floated at $135 a share on Friday and its shares have risen by approximately 60% since. The float made Musk, SpaceX’s founder and chief executive, the world’s first trillionaire . The 54-year-old is now worth $1.27tn, according to Bloomberg. SpaceX had been circling Cursor for months. It said in April it had secured an option to ‌either buy the San Francisco-based firm for $60bn later this year or pay $10bn for a partnership. Cursor will be paid in stock under the deal, a regulatory filing showed, and the deal will not use proceeds from SpaceX’s IPO. The transaction is expected to close in the third quarter of 2026. Explore more on these topics SpaceX AI (artificial intelligence) Elon Musk Mergers and acquisitions IPOs Technology sector Computing news Share Reuse this content