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Benzinga
  • 1 hour ago
SpaceX reached a deal with AI coding startup Cursor giving it the right to acquire the company for $60B later this year or pay $10B for joint work. SpaceX said it is working with Cursor to build coding and knowledge work AI. Cursor is separately raising $2B at a valuation above $50B. The deal follows Elon Musk's February merger of SpaceX with xAI, valued at $1.25T, with plans to take the combined company public.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02SpaceX said Tuesday it reached a deal with AI startup Cursor that gives it the right to acquire
00:07the company for $60 billion later this year or pay $10 billion for joint work, according to CNBC.
00:14The announcement came as a New York Times report said SpaceX agreed to buy Cursor for $50 billion
00:20before being updated. SpaceX said it is working with Cursor to build coding and knowledge work AI.
00:25The development follows Elon Musk's February merger of SpaceX with XAI, which he valued at $1.25 trillion
00:32and plans to take the combined company public. Cursor is raising $2 billion at a valuation above
00:39$50 billion. The company builds tools for developers to test and record coding activity.
00:45For all things money, visit Benzinga.com.
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