India, June 16 -- Elon Musk's spaceflight company Space Exploration Technologies Corp. or SpaceX (SPCX) announced Tuesday that its wholly-owned subsidiary X67, Inc. has agreed to merge with and into Cursor, the artificial intelligence (AI) coding startup developed by Anysphere, Inc., in an all-stock deal valued at about $60 billion.
X67, Inc. will merge directly into Anysphere, with Cursor surviving and operating as a wholly-owned subsidiary of SpaceX. X67, Inc. is a temporary legal entity handling the merger.
Under the terms of the deal, Cursor shareholders will receive SpaceX Class A common stock for each Cursor common and preferred stock held by them.
The per share consideration will be determined based on the $60 billion valuation of...