SpaceX to Pursue Cursor Acquisition Within a Month of IPO, Bloomberg Reports
Summary
- SpaceX has decided to acquire AI coding startup Cursor within a month of its IPO, according to a report.
- SpaceX is set to file a Nasdaq IPO application with the SEC and list on June 12, the report said.
- The Financial Times reported that SpaceX had agreed to acquire Cursor for $60 billion and would be obligated to pay $10 billion and enter into a strategic partnership if the deal falls through.
Forecast Trend Report by Period
Elon Musk’s SpaceX has decided to acquire AI coding startup Cursor within a month of its initial public offering, Bloomberg reported on May 19.
SpaceX is set to file for a Nasdaq IPO with the U.S. Securities and Exchange Commission as early as May 21 and plans to list on June 12, the report said. If the IPO goes ahead, SpaceX would acquire Cursor in July. Founded in Silicon Valley in 2022, Cursor develops software that automates AI code writing. It has raised $3.4 billion to date.
The Financial Times reported in April that SpaceX had agreed with Anysphere, Cursor’s parent company, to acquire Cursor for $60 billion. If the deal falls through, SpaceX would be required to pay Anysphere $10 billion and enter into a strategic partnership, according to the FT.
Lee Mi-a, Hankyung.com reporter mia@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
