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SpaceX Agrees to Acquire Cursor Parent Anysphere in $60 Billion Deal

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SpaceX Agrees to Acquire Cursor Parent Anysphere in $60 Billion Deal

Space Exploration Technologies (SPCX) has agreed to acquire Anysphere, which operates artificial intelligence coding agent Cursor, in a deal worth about $60 billion, just days after the rocket and satellite company went public.

The transaction, which requires approval from regulators, is expected to complete in the third quarter, SpaceX said in a regulatory filing Tuesday.

SpaceX had been working with Cursor to "create the world's best coding and knowledge work AI," the former said on the X platform in April. At the time, the Elon Musk-led company said it had the right to acquire Cursor later this year for $60 billion or pay $10 billion for their collaborative work.

SpaceX on Monday closed its IPO of about 638.9 million shares at $135 apiece, following its blockbuster Nasdaq debut on Friday. The underwriters fully exercised their option to buy an additional 83.3 million shares.

Shares of the company increased 8.1% as trading got underway on Tuesday, pushing its market capitalization above $2.7 trillion, higher than Amazon's (AMZN) valuation.

SpaceX soared 20% on Monday.

In a note emailed on Monday, KeyBanc Capital Markets said the space sector's recent sell-off is "unwarranted," with the industry's long-term growth prospects remaining strong.

Price: $212.74, Change: $+20.24, Percent Change: +10.51%

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