Rocket company SpaceX (SPCX) disclosed that it is buying Anysphere, the artificial intelligence startup behind Cursor, for $60 billion in stock. As a result, some investors may be wondering what exactly the company does. Well, Cursor is an AI coding tool that helps software developers write, edit, debug, and improve code by using simple natural-language prompts. The deal comes after an agreement in April gave SpaceX the option to either acquire Cursor for $60 billion or pay the company $10 billion for its work.
Importantly, Cursor has become one of the leading AI coding agents because more than 1 million developers already use it. It is also used by major companies such as Nvidia (NVDA), Adobe (ADBE), Figma (FIG), and OpenAI. More than half of Cursor’s revenue is believed to come from corporate customers, including companies using the platform for the first time and existing customers adding more employee seats. For SpaceX, the acquisition gives Elon Musk’s company a much bigger position in enterprise AI.
Cursor was already growing quickly before the deal, reaching more than $2 billion in annual revenue run rate in March after raising about $2.3 billion at a $29.3 billion valuation in November 2025. Musk has suggested that combining Cursor’s coding platform with SpaceX’s Colossus data-center capacity could help the company build stronger AI models. SpaceX also said that Cursor’s reach among expert software engineers, combined with its large training supercomputer, could help it develop better AI tools for coding and knowledge work.
Is SPCX Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on SPCX stock based on two Buys and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average SPCX price target of $160 per share implies 26.1% downside risk.
