🇺🇸SpaceX completed its $60 billion acquisition of Cursor, issuing approximately 389 million Class A shares as consideration.

SpaceX disclosed that its merger with AI coding-tool company Cursor became effective on August 14, two months after the acquisition agreement was announced. Cursor’s implied equity value in the completed transaction was $60 billion.

Cursor shareholders received approximately 389 million shares of SpaceX Class A common stock. The principal consideration therefore consisted of SpaceX shares, and the source said the transaction did not involve a public offering.

Cursor’s vested restricted stock units were converted into approximately 1.75 million SpaceX Class A shares. Its unvested restricted stock units and stock options were converted into approximately 29.13 million SpaceX restricted stock units and 44.37 million SpaceX stock options, respectively.

SpaceXAI said Cursor would join its team and support work on AI tools beginning with software engineering and expanding into knowledge work. Cursor’s AI assistant was launched in 2023 to help programmers write and debug code.