SpaceX is acquiring Cursor, an AI coding assistant, for $60B in an all-stock deal, marking a major consolidation in the AI tools market.

What happened: SpaceX is acquiring Cursor for $60B in an all-stock deal. Cursor also launched new features at its first conference, including Origin (a GitHub alternative for code storage and git hosting), smoother transitions between local and cloud agents, and teased a new Cursor model designed to do much more than coding.

Why it matters: Cursor is a widely-used AI coding tool, and this acquisition by SpaceX—a non-software company—signals how deeply AI agents are becoming embedded in core business operations. The deal reflects the high valuations placed on AI productivity tools, even as the market consolidates.

What to watch: Cursor's new model is teased to handle tasks beyond coding, suggesting the tool is expanding beyond its original narrow use case. Origin, the GitHub alternative, will be available on a waitlist.