SpaceX Just Agreed to Acquire This AI Start-Up For $60 Billion
The deal gives SpaceX and xAI access to a popular AI coding tool.
SpaceX Just Agreed to Acquire This AI Start-Up For $60 Billion
Overview
Space Exploration Technologies (NASDAQ:SPCX) is coming off the biggest IPO in history, raising a record $85.7 billion on Feb. 12 as Elon Musk’s SpaceX became a publicly traded company. And now it’s putting some of that money to use.
In a filing with the Securities and Exchange Commission, SpaceX announced that it entered into a formal agreement to purchase the parent company of artificial intelligence start-up Cursor for $60 billion in stock. The acquisition is expected to close in the third quarter.
Details
The all-stock acquisition of the Cursor parent, Anysphere, was expected -- in SpaceX’s prospectus, it disclosed that it entered into a partnership with Cursor in April that included an option to purchase the coding company.
Source
Originally published at www.fool.com.
