Reports say Elon Musk’s SpaceX plans to buy AI coding startup Cursor shortly after SpaceX begins trading publicly. Bloomberg reports that SpaceX expects to complete the Cursor acquisition roughly 30 days after its IPO starts. A separate report from The Next Web places the timing in July if SpaceX’s planned IPO proceeds on schedule. The acquisition is reported as a $60 billion deal. Separately, Bloomberg says Cursor’s annualized revenue rate reaches about $3 billion in late April, with an earlier reference to more than $2 billion annualized revenue in February. Bloomberg attributes the figures to a person familiar with the matter and notes Cursor has more than 3,000 paying customers, each paying at least $100,000. The timing and deal size are discussed as expectations among people familiar with the matter, and no definitive terms or regulatory approvals are described in the available excerpts. Overall, the reporting points to a rapid post-IPO path for SpaceX to add Cursor’s AI coding software and to Cursor’s growing commercial footprint ahead of the proposed transaction.
SpaceX to acquire AI coding startup Cursor about 30 days after IPO, reports say
Reports say Elon Musk’s SpaceX plans to buy AI coding startup Cursor shortly after SpaceX begins trading publicly. Bloomberg reports that SpaceX expects to complete the Cursor acquisition roughly 30 d...
- SpaceX plans to acquire AI coding startup Cursor about 30 days after SpaceX begins trading publicly.
- The proposed acquisition is reported to be $60 billion.
- Cursor’s annualized revenue is reported to have reached about $3 billion in late April.
- Earlier reporting cited Cursor’s annualized revenue as above $2 billion in February.
- Cursor is reported to have more than 3,000 paying customers, each paying at least $100,000.
Cursor’s annualized revenue hit $3 billion in late April, according to a person familiar with the matter, indicating growing demand for the company’s AI coding software ahead of an expected deal to be acquired by Elon Musk’s SpaceX. The artificial intelligence startup’s annualized revenue, which projects sales for a 12-month-period based on recent performance, topped $2 billion in February, Bloomberg previously reported. Cursor now has more than 3,000 customers paying at least $100,000 each for
3 months agoSpaceX expects to complete its $60 billion acquisition of AI coding startup Cursor roughly 30 days after it begins trading publicly, according to Bloomberg, a timeline that would place the deal in July if the company’s blockbuster IPO proceeds on schedule. The rocket, satellite, and artificial intelligence conglomerate is planning to file its public IPO prospectus as […] This story continues at The Next Web
3 months agoSpaceX expects to proceed with its acquisition of artificial intelligence coding startup Cursor 30 days after Elon Musk’s company begins trading publicly, according to people familiar with the matter.
3 months ago
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