SpaceX completed its all-stock acquisition of Anysphere, the company behind the Cursor coding tool, on 14 August. It is the largest acquisition of a venture-backed startup on record — and it was agreed in June.
What the filing actually reports
The Form 8-K, filed under Items 2.01, 3.02 and 9.01, reports a completion, not a deal. Cursor's outstanding common and preferred shares converted into the right to receive 389,289,254 shares of SpaceX Class A common stock. Vested Cursor RSUs converted into a further 1,752,426 Class A shares before tax withholding. Unvested awards were assumed as roughly 29,128,326 SpaceX RSUs and 44,365,047 SpaceX options.
Where the $60bn comes from
The figure is an implied equity value, derived by multiplying the share count by a price — specifically the volume-weighted average closing price of SpaceX stock over the seven consecutive trading days before completion. No cash changed hands. The merger consideration was issued without a registered public offering, which is why the 8-K carries Item 3.02 for unregistered sales.
The number most coverage leaves out
Reports that cite 389.3m shares as the dilution are undercounting. Add the vested-RSU shares and the assumed unvested awards and the fully diluted figure is roughly 73.5m higher than the headline. SpaceX shares (SPCX) rose about 1.5% to $143.45 after the close.
Where Cursor goes
Cursor now runs as a wholly owned subsidiary inside a division branded SpaceXAI — the unit created when SpaceX merged with xAI earlier in 2026. Cursor dates the relationship to an April 2026 compute partnership and says the deal gives it access to the Colossus supercomputer, which it frames as cheaper training rather than a product change.
What is projection, not plan
The $13bn of 2027 revenue attributed to the deal and the $300 price target circulating alongside it are Morgan Stanley analyst estimates, not company guidance. So are the claims that a Grok Bot beta is imminent and that the Cursor brand will be retired. Cursor's own post names no figure at all.