SpaceX will acquire the artificial intelligence (AI) coding app Cursor's developer for $60 billion (about 90 trillion won).
On the 16th (local time), the U.S. Securities and Exchange Commission (SEC) said SpaceX disclosed that it signed a deal to merge, through a stock exchange, with Cursor's parent company, Anysphere (Cursor), in a stock exchange valued at $60 billion.
Cursor is a startup with technology that automates coding using AI. It lets users write, modify, and debug code with natural-language commands alone.
SpaceX acquired Elon Musk's AI corporations xAI in Feb. Cursor's acquisition is also seen as a move to strengthen AI capabilities. xAI's AI model "Grok" has been regarded as lagging in AI coding compared with competitors' models. For this reason, this merger and acquisition (M&A) is analyzed as an attempt to fill Grok's coding capability gap.
Meanwhile, SpaceX stock climbed to No. 5 by market capitalization, overtaking Amazon and trailing Microsoft. At 9:46 a.m. on the New York stock market, SpaceX shares were trading at $209.3450, up 8.75% from the previous day. Intraday, they soared as much as 11.96%.