SpaceX will buy Cursor for $60 billion

SpaceX plans to acquire Cursor for $60 billion in a stock-based deal, marking the largest acquisition of a VC-backed startup. Cursor has raised about $3.38 billion since its 2022 founding from investors including Thrive Capital, a16z, OpenAI Startup Fund, BoxGroup, Dorm Room Fund, Accel, DST Global, WndrCo, CRV, Coatue, Nvidia, Hanabi Capital, and Lauder Partners. Alameda Research, a FTX affiliate, invested $200,000 in Cursor during its seed round, with shares later sold back to Cursor at cost during FTX’s bankruptcy process. SpaceX will pay with SpaceX stock, which rose about 20% on Monday and extended gains on Tuesday.