SpaceX Strikes Deal With Coding Startup Cursor For $60 Billion

An anonymous reader quotes a report from the New York Times: SpaceX, Elon Musk’s rocket and satellite company, said on Tuesday that it had struck a deal with the artificial intelligence start-up Cursor that could result in its acquiring the young company for $60 billion. SpaceX is making the deal just as it prepares to go public in what is likely to be one of the largest initial public offerings ever. In a social media post, SpaceX said the combination with Cursor, which makes code-writing software, would “allow us to build the world’s most useful” A.I. models.

SpaceX added that the agreement gave it the option “to acquire Cursor later this year for $60 billion or pay $10 billion for our work together.” It is unclear if the companies plan to consummate the deal before or after SpaceX’s I.P.O., which could happen as early as June. […] Cursor, which has raised more than $3 billion in funding, was founded in 2022 and made waves as a fast-growing A.I. start-up. It was under pressure in recent months after OpenAI and Anthropic announced competing code-writing products that were embraced by tech companies. Cursor had been in talks to raise funding in recent weeks.