according to the latest report from bloomberg, spacex plans to formally proceed with its acquisition of ai programming tool developer cursor within 30 days of completing its ipo. the company is expected to file its ipo prospectus this wednesday and aims to list on nasdaq on june 12. if all goes smoothly, the acquisition could close in july. the ipo seeks to raise up to $75 billion, valuing the company at over $2 trillion—potentially setting a new global record for the largest-ever ipo, far surpassing saudi aramco’s $29.4 billion mark set in 2019.
as early as april this year, the two parties reached a key agreement: spacex secured an option to acquire cursor outright for $60 billion later this year; should it ultimately abandon the deal, it would have to pay cursor a $10 billion “break-up fee.” founded in 2022 by four mit alumni born in the 2000s, with an average age under 25, cursor’s ai programming assistant has already attracted over one million paying users, serving more than half of the fortune 500 companies. however, cursor does not develop its own large models, relying instead on technological support from openai and anthropic. meanwhile, spacex’s xai, despite operating the colossus supercomputing cluster—which boasts computing power equivalent to millions of h100 gpus—has yet to launch a competitive ai programming product.
this acquisition will integrate the entire value chain—from underlying computing power and large-model development to end-user development tools—filling the most critical application-layer gap in spacex’s broader ai strategy. as of now, neither cursor, spacex, nor xai has issued any public comment on the deal.
