Investing.com -- SpaceX finalized its acquisition of Anysphere, Inc., the developer of the popular AI coding tool Cursor, in an all-stock transaction valued at $60 billion. Confirmed via an SEC Form 8-K, the historic deal resulted in the issuance of approximately 391 million SpaceX Class A shares and is widely considered the largest startup acquisition on record.

Following the announcement, SpaceX (NASDAQ: SPCX) shares saw a 1.5% bump, trading at $143.45. Under the agreement, Cursor’s outstanding shares converted into 389.3 million SpaceX shares, with additional restricted stock units and options assumed by the aerospace giant.

Cursor will now operate as a wholly owned subsidiary under the newly rebranded "SpaceXAI" division. This integration grants the Cursor team access to SpaceX’s Colossus supercomputer, and the combined entity has already launched a beta version of "Grok Bot." Analysts anticipate the Cursor brand will eventually phase out in favor of the Grok moniker. Wall Street remains bullish on the transition; Morgan Stanley maintained a $300 base price target, projecting the Cursor acquisition could drive up to $13 billion in SpaceX revenue by 2027.