SpaceX acquires Cursor

Merger agreement

SpaceX, its subsidiary X67 Inc. and Anysphere signed a merger agreement on June 16, 2026. Cursor survives as a wholly owned subsidiary of SpaceX. 8-K ↗

“On June 16, 2026, Space Exploration Technologies Corp. (the "Company"), X67 Inc., a wholly owned subsidiary of the Company ("Merger Sub"), and Anysphere, Inc. ("Cursor") entered into an Agreement and Plan of Merger (the "Merger Agreement"), pursuant to which Merger Sub will merge with and into Cursor, with Cursor surviving the merger as a wholly owned subsidiary of the Company (the "Merger").”

Terms at signing

Cursor stock converts into SpaceX Class A shares based on an implied equity value of $60.0 billion and a seven-day volume-weighted average share price before closing. 8-K ↗

“At the effective time (the "Effective Time") of the Merger, each share of Cursor's common stock and each share of Cursor's preferred stock outstanding immediately prior to the Effective Time of the Merger will be automatically converted into the right to receive shares of the Company's Class A common stock based on an implied equity value of Cursor of $60.0 billion and the price of the Company's Class A common stock equal to the volume-weighted average closing price thereof over the seven consecutive trading days immediately preceding the closing of the Merger (the "Merger Consideration").”

Option agreement

In April 2026 SpaceX signed an option agreement that gave it the right, but not the obligation, to acquire Cursor. 10-Q ↗

“In April 2026, the Company entered into an option agreement ("Cursor Option Agreement") providing for the right, but not the obligation, to acquire Anysphere, Inc., a San Francisco-based private software company doing business as Cursor ("Cursor").”

Option exercised

SpaceX exercised the call option in June 2026 and signed the merger agreement. 10-Q ↗

“In June 2026, the Company exercised the call option and entered into an Agreement and Plan of Merger (the "Cursor Merger Agreement") with Cursor to acquire Cursor (the "Cursor Merger").”

Compute agreement

With the option agreement, SpaceX agreed to provide Cursor with GPU cluster compute capacity, and the two agreed to work together on models, including Grok. 10-Q ↗

“Concurrently with the Cursor Option Agreement, the Company entered into a compute agreement ("Cursor Compute Agreement") where the Company would provide Cursor with certain GPU cluster compute capacity and the parties would collaborate to improve existing models, including Grok, and to jointly develop AI models and related model-specific deliverables or products.”

Vested RSUs

Vested Cursor restricted stock units converted into the right to receive SpaceX Class A shares. 8-K ↗

“(ii) the vested Cursor restricted stock units outstanding immediately prior to the Effective Time were automatically converted into the right to receive, prior to giving effect to any withholding for applicable taxes, an aggregate of 1,752,426 shares of the Company's Class A common stock”

Unvested awards

Unvested Cursor restricted stock units and stock options were converted into SpaceX restricted stock units and stock options. 8-K ↗

“(iii) the unvested Cursor restricted stock units and Cursor stock options outstanding immediately prior to the Effective Time were assumed and converted into an aggregate of approximately 29,128,326 Company restricted stock units with respect to the Company's Class A common stock and approximately 44,365,047 stock options to purchase the Company's Class A common stock, respectively”

• Company metric in the same source: AI segment revenue $2.56B

  Filed, as of Jun 30, 2026 · “Three Months Ended June 30, 2026 Space Connectivity AI Total Reportable Segments Revenue $ 962 $ 4,291 $ 2,561 $ 7,814”

• Company metric in the same source: AI segment capital expenditures $15.83B

  Filed, as of Jun 30, 2026 · “Capital expenditures $ 1,174 $ 1,367 $ 15,828 $ 18,369”

• Company metric in the same source: AI segment revenue $3.38B

  Filed, as of Jun 30, 2026 · “Six Months Ended June 30, 2026 Space Connectivity AI Total Reportable Segments Revenue $ 1,581 $ 7,548 $ 3,379 $ 12,508”

• Company metric in the same source: AI segment capital expenditures $23.55B

  Filed, as of Jun 30, 2026 · “Capital expenditures $ 2,226 $ 2,699 $ 23,551 $ 28,476”

1. SEC EDGAR (Space Exploration Technologies Corp.), “SpaceX Form 8-K, June 16, 2026 (merger agreement with Anysphere, Inc. (Cursor))”, Jun 16, 2026 · Form 8-K, accession 0001628280-26-043411 · retrieved Oct 21, 2026
2. SEC EDGAR (Space Exploration Technologies Corp.), “SpaceX Form 8-K, August 14, 2026 (completion of the Cursor merger)”, Aug 14, 2026 · Form 8-K, accession 0001628280-26-056945 · retrieved Oct 21, 2026
3. SEC EDGAR (Space Exploration Technologies Corp.), “SpaceX Form 10-Q for the quarter ended June 30, 2026”, Aug 4, 2026 · Form 10-Q, accession 0001628280-26-052535 · retrieved Oct 20, 2026

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