SpaceX Closes $60B Cursor Acquisition, Issues 391M+ Shares; SPCX Slides 3.88% on Dilution

SpaceX completed its previously announced all-stock acquisition of Anysphere, Inc. (maker of the AI coding tool Cursor) on August 14, 2026, per an SEC Form 8-K. Merger Sub X67 Inc. merged into Cursor, which now continues as a wholly owned SpaceX subsidiary. SpaceX issued 389,289,254 shares of Class A common stock to Cursor's common and preferred equity holders (implied $60.0B equity value based on the 7-trading-day volume-weighted average price before closing), plus 1,752,426 shares for vested RSUs, and assumed roughly 29.1 million unvested RSUs and 44.4 million stock options — an unregistered private placement under Securities Act Section 4(a)(2). SPCX shares fell 3.88% the same day, underperforming the Telecommunications Services sector's 2.28% decline, as the ~391M-share issuance added to persistent post-lockup selling pressure ahead of the next scheduled unlock (~319M shares) on August 20. The deal originated from an April 2026 SpaceX-Cursor partnership option and follows the March 2026 SpaceX-xAI merger as part of SpaceX's broader AI compute buildout, giving Cursor's developer base access to SpaceX's Colossus GPU fleet and Grok models.