SpaceX has finalized its $60 billion purchase of Anysphere, the company behind the Cursor AI coding platform. The deal closed August 14, instantly handing SpaceX a ready-made enterprise software business that extends far beyond its existing Grok chatbot and compute contracts.
The acquisition comes as SpaceX accelerates its push into artificial intelligence infrastructure. Cursor, which serves developers with AI-assisted coding tools, now operates entirely under SpaceX ownership following an SEC filing on the same day the transaction completed.
The structure of the deal involved issuing roughly 389.3 million Class A shares to Anysphere shareholders, plus an additional 1.75 million shares for vesting RSU holders. That pushed SpaceX’s total Class A share count to approximately 7.70 billion, a 5% expansion of the equity base. Meanwhile, the August 6 lockup release already made 912 million shares eligible for sale, with another lockup event scheduled for August 20. The combined effect could create near-term supply pressure on the stock.
Financial results for the second quarter painted a picture of explosive growth. Total revenue hit $7.8 billion, up 92% from $4.1 billion a year earlier. Starlink contributed $4.29 billion, growing 66%, while the AI segment surged 250% to $2.56 billion. Starlink closed the quarter with 12 million broadband subscribers, double the 6 million reported in Q2 2025.
However, capital expenditure tells a different story. SpaceX spent over $18 billion during the quarter, with more than $15.8 billion funneled into AI infrastructure alone. That figure nearly doubles quarterly revenue, raising questions about utilization rates and when cash inflows will catch up to spending.
The company also secured more than $6 billion in multi-year government contracts during Q2. Starshield and national security launch missions continue to cement federal ties.
On the technical front, SPCX recovered from the August 14 selloff and now tests resistance between $146 and $154. A breakout above $154 could target $163 and $172. Support sits at $139, with the 50-day EMA at $133 below that. The August 20 lockup release remains the primary near-term risk.
The Jackson Hole Symposium, scheduled for August 21-22, may clarify whether Federal Reserve signals support continued aggressive capital expenditure or trigger renewed caution around enterprise expansion.
